5 FACTS ABOUT THE PROGRESS OF ELECTRIC VEHICLE

by Thailand Automotive Institute (TAI)

5 FACTS ABOUT THE PROGRESS OF ELECTRIC VEHICLES

While global car sales took a pandemic-related hit last year, electric vehicles (EVs) bucked the trend.

The number of EVs registered across the globe expanded massively in 2020, according to the International Energy Agency (IEA) – and this is set to continue over the next decade.

Here are five facts about the market from the agency’s first Global Electric Vehicle Outlook report. 1. There Were 11 Million Registered Electric Vehicles on the Road at the End of Last Year

10 million of these were cars. The total number of electric cars, buses, vans and trucks is projected to rise to 145 million, or 7% of road transportation, by the end of the decade under governments’ existing energy and climate policies.

With even bolder climate programs and emission reduction targets, there could be up to 230 million electric vehicles on our streets – 12% of all road transport – by 2030. Motorcycles and mopeds were not included in the figures.

2. Electric Car Buying Remained High in the Face of the Pandemic Electric car registrations were up 41% in 2020, despite a 16% drop in overall car sales across the world.

Last year was indeed a ground-breaking one for the sector, as Europe overtook China as the centre of the global electric car market for the first time. From global electric car sales of 3 million, registrations in Europe

more than doubled to 1.4 million, while in China they increased to 1.2 million.

3. Consumer and Government Spending on Electric Cars Rose in 2020

A rise in the number of different EV car models available in the market to 370 and the falling cost of batteries saw consumers spend 50% more on electric cars in 2020, to the tune of $120 billion.

Governments also continued to encourage the move to EVs, spending $14 billion on direct purchase incentives and tax deductions – a 25% rise year-on-year. Before the pandemic, many countries streng the ned key policies such as CO2 emission standards and zero-emission vehicle (ZEV) directives. By the end of 2020, more than 20 countries had either announced bans on sales of internal combustion engine cars or decreed that all new sales be zero-emission.

Some European countries increased buying incentives and incorporated the promotion of EVs into their postpandemic economic recovery plans. China postponed the end of its New Energy Vehicle (NEV) subsidy scheme to 2022, to safeguard EV sales from the economic downturn. 4. Electric Bus and Truck Registrations Also Increased Within the World’s Largest Markets

Across China, Europe and North America these rises were mainly due to municipal governments imposing greater emission reductions on commercial vehicles operating within their towns and cities. China, for example, commands a 27% share of all electric bus sales, where new registrations were up 9% in 2020.

Electric heavy-duty trucks, while more established in China, have only recently begun to come on stream further afield, currently consisting of around 1% of all truck sales in both Europe and the US.

5. Widespread EV Adoption Could Significantly Reduce Greenhouse Gas Emissions

The IEA says mass adoption has the potential to cut emissions by more than one-third by 2030 under the existing ‘stated’ green policies

Up to two-thirds of emissions could be slashed in that time if countries endorse more ambitious ‘sustainable development’ targets.

Read more : https://www.ecowatch.com/electric-vehicle-facts-2652960998.html