This is a summary of information taken from the first Global Electric Vehicle Outlook report issued by International Energy Agency (IEA)
- Worldwide there were 11 million electric vehicles (EVs) on the road at the end of 2020. 10 million were cars and by 2030 the projection could be between 145 million and 230 million EVs on the roads.
- The global pandemic did not adversely affect EV sales. In 2020 EV registrations increased by 41%, despite a decrease in general car sales.
- In 2020 Europe became the leader for the EV market, replacing China with 1.4 million registrations.
- The cost of the batteries has decreased, and consumers have increased their EV spend.
- Government investment increased in 2020 tax deductions and purchase incentives. Plus, green policies have been strengthened with zero-emission vehicle (ZEV) directives.
- Electric bus and truck registrations also increased, partly due to restrictions on emissions.
- It is possible that this growth in EVs has the potential to cut emissions by more than 33% by 2030 under the current policies, and then up to 66% could be cut if the targets became more ambitious.
- Progress is being made, but currently worldwide EVs are only 1% of the worldwide number of vehicles.
- Challenges remain with charging structures, the need for heavy duty vehicles for heavy industries, an increase in recyclability and a further reduction in the cost of cars.
- While there are projects underway to show how the car industry is responding from Nissan and Volkswagen; there is still a need to resolve how batteries are made with more recycled sources rather than raw materials. This is something that the Global Battery Alliance (GBA) is attempting to address.
