Global electric vehicle sales to more than double in 2021 compared to 2020, triple in 2019

Global electric vehicle sales took a giant leap in both volume and market share in 2021, according to a new report from International Energy Agency (IEA).

According to the IEA, automakers sold 6.6 million plug-in vehicles in 2021, more than double the 3 million sold in 2020 and more than triple the 2.2 million. went on sale in 2019. The IEA says the broader definition of electric vehicles as battery electric vehicles and hybrids also accounts for about 9% of the global new car market, up from 4.1% in 2020 and 2, respectively. 5% in 2019, the IEA said.

While the global electric vehicle market share is still quite small, this is a large increase from 10 years ago, when only 130,000 electric vehicles were sold globally, the IEA noted. The organization also found that all net growth in global car sales in 2021 will come from electric vehicles.

Global EV sales and market share 2010-2021 (as reported by IEA)

Government policies remain the driver of electric vehicle sales growth, but 2021 sales have been boosted by the launch of more new models, as well as by automakers’ announcements about increasing production of electric vehicles, such as Toyota’s goal of reaching sales of 3.5 million electric vehicles per year by 2030, the IEA said.

While electric vehicles do not burn fossil fuels, the IEA also notes that the continued rise of SUVs negate much of the reduction in emissions from EVs, however.

China leads global EV growth in 2021 as sales nearly triple to 3.4 million units, according to the IEA. Electric vehicle sales in the United States also surged in 2021, despite supply chain issues, more than doubling to pass half a million.

Citroën -C4

In Europe, sales of electric vehicles are up nearly 70 percent in 2021 to 2.3 million units, the IEA said. Another report shows electric vehicle sales finally passed the diesel engine organization in Europe last year. But Europe is moving at two different speeds on EV adoption, with richer countries making the change faster.

The IEA noted that it remains unclear whether the growth rate of electric vehicle sales will continue into 2022. The Biden administration has said it will build up its raw materials mining and battery manufacturing operations in the country.

Despite concerns that internal combustion vehicle sales are still rising and electric vehicles have yet to catch up in major markets such as South America and India, Bloomberg emphasized that the internal combustion has reached its peak.

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Thanks to GCR friend John Briggs for adding a legend to the IEA rankings outlined above.