According to a report from the International Energy Agency (IEA), sales of electric cars, which include battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), surpassed 10 million in the previous year, which is an increase of 55% when compared to 2021.
The Paris-based organization says in excess of 26 million electric vehicles were on the world’s roads in 2022, which represents a 60% increment comparative with 2021.
The IEA’s Global EV Outlook for 2023 contains record sales figures that continue the industry’s trend of steady growth.
It continued, “This figure — 10 million EV sales worldwide — exceeds the total number of cars sold across the European Union (approximately 9.5 million vehicles) and is nearly half of the total number of cars sold in China in 2022.”
In its report, the IEA defined “sales” as “an estimate of the number of new vehicles hitting the roads.”
Module crossover electric vehicles, or PHEVs, have a gas powered motor as well as a battery-controlled electric engine.
They are seen by some as an important tool for moving toward zero- and low-emission transportation. They are misunderstood by others, including organizations like Greenpeace UK.
The IEA, based in Paris and widely regarded as an authoritative voice on the energy transition, predicted that worldwide sales would reach nearly 14 million in 2023.
According to the latest IEA projections, an accompanying statement noted, “This explosive growth means that electric cars’ share of the overall car market has risen from around 4% in 2020 to 14% in 2022 and is set to increase further to 18% this year.”
Chinese market dominance The International Energy Agency (IEA) referred to China as “the frontrunner” in terms of sales of electric cars. It also said that the world’s second-largest economy now had over half of all electric cars on the road.
The IEA stated, “In Europe, the second largest market, electric car sales increased by more than 15% in 2022, meaning that more than one in every five cars sold were electric,” and it added that electric car sales in the United States had increased by 55% in the same year.
The IEA’s executive director, Fatih Birol, stated, “Electric vehicles are one of the driving forces in the new global energy economy that is rapidly emerging – and they are bringing about a historic transformation of the car manufacturing industry worldwide.”
“The patterns we are seeing have critical ramifications for worldwide oil interest,” he added.
“While electric vehicles are disrupting the status quo,” “the internal combustion engine has gone unrivaled for over a century.”
“By 2030, they will keep away from the requirement for no less than 5 million barrels every day of oil. Cars are only the beginning: electric transports and trucks will follow soon.”
The IEA noted that other regions of the world were also exhibiting “promising signs,” despite the fact that China, Europe, and the United States are major players in the field of electric vehicles.
It stated, “Electric car sales are typically low outside of the major markets, but India, Thailand, and Indonesia saw growth in 2022.” 80,000 electric cars were sold all together in these nations between now and 2021, a more than threefold increase.
The report stated that there was a “ramping up” of EV and component manufacturing in India. The Indian government had supported this with a $3.2 billion incentive program, which in turn had brought in $8.3 billion in investment.
The past couple of years have seen various enormous economies spread out plans to increase the quantity of EVs on their roads.
For instance, the United Kingdom intends to ban the sale of new diesel and gasoline automobiles and vans by 2030 and will require that all new automobiles and vans have zero tailpipe emissions by 2035.
The United Kingdom’s departure from the European Union on January 31, 2020, is also aimed at lowering emissions from road-based transportation.
Additionally, by 2035, California, the most populous state in the United States, will prohibit the sale of new gasoline-powered automobiles.
Even though low- and zero-emission vehicles have great potential, the transition away from fossil fuel-powered automobiles won’t always be easy.
There are worries, for example, that the lower noise levels of EVs may pose a challenge to people with sight problems. In addition, talk of a skills gap is sparking discussions about cost and safety, while ensuring charging infrastructure is accessible to all is another area to watch.
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