Electric vehicles are becoming more and more popular, and it’s no secret why. They’re cheaper to own than conventional cars, they reduce your carbon footprint and they’re fun to drive. In fact, according to forecasts by the International Energy Agency (IEA), global electric vehicle sales are expected to more than double each year between 2020 and 2022. That means that by the end of 2022, there will be approximately 12 million electric vehicles on the road around the globe. China is expected to lead the way in EV adoption, with the number of EVs sold there doubling every year between 2020 and 2022 — due largely in part because of factors such as rising fuel costs, increasing environmental awareness and a desire for new technology.”
Global demand for electric vehicles is growing at an astonishing rate.
Global demand for electric vehicles is growing at an astonishing rate. The number of EVs sold worldwide is expected to double every year between 2020 and 2022, according to research by Bloomberg New Energy Finance (BNEF).
In China, where air pollution is a major concern and automakers are looking for ways to meet government mandates on new-energy vehicles (NEVs), sales will increase more than tenfold over the next four years.
In fact, according to forecasts by the International Energy Agency, global electric vehicle sales are expected to more than double each year between 2020 and 2022.
In fact, according to forecasts by the International Energy Agency, global electric vehicle sales are expected to more than double each year between 2020 and 2022. By 2040, they’re expected to reach around 100 million units annually.
But what does this mean for you? Well it depends on how you look at it: whether you want an EV or not!
That means that by the end of 2022, there will be approximately 12 million electric vehicles on the road around the globe.
By 2022, there will be approximately 12 million electric vehicles on the road around the globe. That’s a huge increase in just a few years–and it means that by the end of 2022, there will be as many EVs on the road as there were total vehicles in both China and America today (around 250 million).
China is expected to lead the way in EV adoption, with the number of EVs sold there doubling every year between 2020 and 2022.
China is the largest market for electric vehicles, and its demand is expected to double every year between 2020 and 2022. In fact, China accounts for more than half of all EVs sold worldwide in 2018. The country’s large domestic market means that it has a lot of room to grow its EV fleet even further; there are only about 2 million EVs on Chinese roads currently.
The government also plans to invest heavily in electric vehicle infrastructure over the next few years as part of its “Made in China 2025” plan–an initiative designed to help develop key industries like robotics and AI domestically rather than importing them from abroad. And while there aren’t many companies manufacturing electric vehicles themselves yet (Tesla being one notable exception), several major automakers have announced plans recently to begin producing cars at factories located within China’s borders by 2021 or 2022–including GM and Ford Motor Company
The United States is also expected to have strong growth in electric vehicle adoption over this period because of factors such as rising fuel costs, increasing environmental awareness and a desire for new technology.
The United States is also expected to have strong growth in electric vehicle adoption over this period because of factors such as rising fuel costs, increasing environmental awareness and a desire for new technology. The US is the second largest EV market in the world after China. It has more than 120,000 charging stations installed nationwide and approximately 200 million vehicles on its roads today.
New technologies are making EVs more affordable for the average person: Battery prices have fallen 80% since 2010; lithium-ion batteries can now store twice as much power per unit mass than they could just five years ago; and fast charging stations are becoming more widespread – some can recharge an empty battery pack up to 80% within 20 minutes! However despite these advances many consumers still find EVs unaffordable due to high upfront costs associated with purchasing an electric car versus its gasoline equivalent (GTE).
We’ll be seeing a lot more EVs on the road soon!
Electric vehicles are the future of transportation, and it’s time to start getting used to them. The number of EVs on the road is doubling every year, which means we’ll be seeing a lot more of them soon!
As the demand for electric vehicles continues to grow, there will be more opportunities for businesses to capitalize on this trend. The best way for companies to do so is by investing in EV infrastructure and developing new technologies that will help make these vehicles safer and more accessible for everyone.
