Electric vehicles reached a significant milestone in 2020, with approximately 10% of all new cars sold being EVs. This growth was primarily driven by strong performance in China and Europe, according to data and estimates from LMC Automotive and EV-Volumes.com, research groups that track automotive sales. The global sales of fully electric vehicles totaled around 7.8 million units, an increase of 68% from the previous year.
While EVs still constitute a small portion of car sales in the United States, their market share is becoming substantial in Europe and China. The technology is increasingly influencing the fortunes of the car market in these regions as it goes mainstream. The surge in EV sales is noteworthy as it occurred amidst economic concerns and production disruptions in the broader car market.
In Europe, fully electric vehicles accounted for 11% of total car sales, and in China, the figure was 19%, according to LMC Automotive. When combined with plug-in hybrid vehicles, which can be recharged through an outlet and also have a combustion engine, the share of electric vehicles sold in Europe rose to 20.3% of the total last year, according to EV-Volumes.com.
The United States is lagging behind Europe and China in the adoption of EVs, but last year saw auto manufacturers sell 807,180 fully electric vehicles in the country. This represents an increase in the share of all-electric vehicles to 5.8% of all vehicles sold, up from 3.2% the previous year. Tesla remains the world's leading EV maker, but traditional automakers are narrowing its lead with new electric-model launches.
In Germany, the largest auto market in Europe, electric vehicles accounted for 25% of new vehicle production last year, according to the German automotive manufacturers association VDA. In December, more EVs were sold in the country than conventional cars.
Source: WSJ