Electric vehicle sales are fast increasing; in the first half of 2021, sales climbed by 26%, accounting for 2.6 million units, or 26% of new vehicle sales in the worldwide automotive market. Continue reading to learn more about how EV sales have climbed by 26%.
China, the United States, and Europe are the top three car markets, with China being the world’s leading EV market with 1.1 million vehicles sold in the first half, accounting for 12% of total sales. Electric vehicle sales in the United States were just 250,000 units or 3% of total sales. California, New York, and Florida were the best-performing states in terms of electric vehicle sales and infrastructure in 2020.
EVs sales double in Korea
According to market data, over 71,000 electric vehicles have been sold in South Korea, more than doubling the number sold the previous year. According to the Korea Automotive Technology Institute, EV sales through September totaled 71,006 units, up from 36,268 units sold the previous year.
Electric vehicles now account for approximately 5.5% of car sales in Korea. After China’s 9.4% and the United States’ 2.3%, it is the second-highest.
World’s top EV auto companies
The leading EV auto companies in the world, such as Tesla, are at the top of the list, with SAIC Motor coming in second. Volkswagen is ranked third, while BYD and Hyundai Motor Group are ranked fourth and fifth, respectively.
Passenger electric vehicle sales
The market was able to thrive despite the interruption caused by Covid-19. In 2021, sales of passenger electric vehicles are expected to increase by more than 80% to 5.6 million units. According to the Zero-Emission Vehicles Factbook, sales of passenger electric vehicles, which include battery-electric, plug-in hybrid, and fuel cell vehicles, were 140% higher in the first half of 2021 than the same period in 2019, accounting for 7% of global passenger vehicle sales. It was 2.6% in 2019.
Global fleet of passenger electric and fuel cell vehicles
Around 13 million passenger electric and fuel cell vehicles are in use worldwide, with 8.5 million of these being pure electric. Since 2019, the global fleet of zero-emission buses has grown by 22% in the first half of 2021.
Global electric and fuel cell vehicle fleet
Since 2019, the International Energy Agency (IEA) has increased its 2030 battery electric vehicle fleet forecast by 7%, while the Organization of Petroleum Exporting Countries (OPEC) has increased its 2040 global electric and fuel cell vehicle fleet estimate by 11%.
Global electric car parts market
Battery providers are also ranked highly for supply volume in the global market, according to SNE Research. Some of the prominent companies include LG Energy Solutions and SK Innovation. In 2020, the global electric car components market was worth $303.3 billion, and by 2024, it is expected to be worth more than $400 billion.