Global sales of EVs rose to record high of 6.6 million in 2021, says IEA

Global sales of EVs rose to record high of 6.6 million in 2021, says IEA
-A +A

KUALA LUMPUR (May 25): Sales of electric vehicles (EVs) doubled in 2021 from the previous year to a new record of 6.6 million, said the International Energy Agency (IEA).

In its Global EV Outlook 2022, IEA said that back in 2012, just 120 000 electric cars were sold worldwide.

It said in 2021, more than that many are sold each week.

It said early 10% of global car sales were electric in 2021, four times the market share in 2019.

IEA said this brought the total number of electric cars on the world’s roads to about 16.5 million, triple the amount in 2018.

It said global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021.

The IEA said the success of EVs is being driven by multiple factors, explaining that sustained policy support is the main pillar.

It said public spending on subsidies and incentives for EVs nearly doubled in 2021 to nearly US$30 billion.

The agency said the increase in EV sales in 2021 was primarily led by China, which accounted for half of the growth.

It said more vehicles were sold in China in 2021 (3.3 million) than in the entire world in 2020.

Sales in Europe showed continued robust growth (up 65% to 2.3 million) after the 2020 boom, and they increased in the United States as well (to 630 000) after two years of decline.

The first quarter of 2022 showed similar trends, with sales in China more than doubling compared with the first quarter of 2021 (accounting for most of global growth), a 60% increase in the United States and a 25% increase in Europe.

It said that by contrast, EV sales are still lagging in other emerging and developing economies, where the few models that are available remain unaffordable for mass-market consumers.

In Brazil, India and Indonesia, less than 0.5% of car sales are electric.

However, it said EV sales doubled in a number of regions in 2021 – including in India– which could pave the way for quicker market uptake by 2030 if supporting investments and policies are in place.