Electric engine-powered cars, knows as electric vehicles (EV) or battery electric vehicles (BEV), make no emissions to air, so they are fully environmentally neutral if use power from renewable sources.
Global EV market
A total of above 2 million electric vehicles were sold globally in 2018, as compared to just several thousand in 2010, and there is no evidence of deceleration of the growth. Despite a rapid growth, EVs are accounting for only 0.5% of 1.68 billion vehicles used globally.
EV market prospects
The number of passenger EVs is to rise to 500 million units, and the number of commercial vehicles to over 40 million units until 2040. The number of combustion engine cars will continue increasing until 2030, but then the trend will reverse.
EVs will account for 57% of all sales in the passenger transport segment and for over 30% of the world’s passenger vehicles in 2040. Annual sales of passenger electric vehicles are expected to reach 10 million units in 2025, 28 million units in 2030, and 56 million units in 2040.
Sales of combustion engine cars have passed the peak and may never return to the figures unless governments of large states including China decide to stimulate the market.
Such an extensive growth is directly linked to falling batteries prices. Further reduction of the prices will even up the prices for EVs and combustion engine cars by mid-2020s despite high market fragmentation depending on the geography.
Stricter environmental policies are another factor that supports the electric mobility market.
Latest EV news
- South Korea to build 500,000 electric vehicle charging stations by 2025
- Russia’s demand for electric cars grows 30% after start of duty-free imports
- Toyota Ultra-Compact/Concept-i Ride – EV/self-driving EV, 2017
- Nissan Ariya – electric car
- Lexus LF-30 Electrified – self-driving electric car
- Toyota LQ/Concept-i – self-driving EV, 2020
- Rosseti to create network of almost 800 charging stations for electric vehicles in Russia
- Yandex.Drive offers electric cars for sharing in Moscow
- VoloCity – self-driving electric helicopter, 2011
- IKEA to start using EVs for goods deliveries in Moscow in 2019
- REUTERS: Why Asia’s largest economies support hydrogen-fueled cars
- Amazon to buy 100,000 electric vans to become climate neutral by 2040
- Tesla Model 3 – electric car, 2016
- France to build debut plant under European battery consortium
- EVs may get priority lane on Russian roads in 2020
EV market analytics
- Russia’s demand for electric cars grows 30% after start of duty-free imports
- REUTERS: Why Asia’s largest economies support hydrogen-fueled cars
- BNEF: Electric Vehicle Outlook 2019
- BNEF: PM Modi to keep on developing India’s renewable energy market in new term
EV companies
- Amazon
- Audi
- BAIC Group / Beijing Auto
- Baidu
- BMW
- Boeing
- Bosch
- CATL
- Daimler / Mercedes-Benz
- Didi Chuxing
- Faraday Future
- Ford Motor
- Future Mobility Corporation (FMC) / Byton
- General Motors / GM
- Honda
- Hyundai Group
- Kamaz
- LeEco
- Lexus
- Nissan
- Porsche
- PSA Peugeot Citroën
- Rivian
- Rosseti (Russian Grids)
- Singulato Motors
EV products
- Honda e – electric car, 2019
- LeEco LeSEE Super EV – self-driving electric car
- Lexus LF-30 Electrified – self-driving electric car
- Mercedes-Benz EQV – electric car, 2019
- Mercedes-Benz Urban eTruck – electric truck, 2016
- Nissan Ariya – electric car
- Porsche Taycan – electric car, 2019
- Tesla Model 3 – electric car, 2016
- Toyota LQ/Concept-i – self-driving EV, 2020
- Toyota Ultra-Compact/Concept-i Ride – EV/self-driving EV, 2017
- VoloCity – self-driving electric helicopter, 2011