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Electric vehicles grow rapidly

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Electric vehicles grow rapidly

  • Currently there are approximately 2 million electric vehicles in the global fleet, or about 0.2 percent of the total
  • Recently, some car manufacturers and governments have announced plans to limit future vehicle sales to those with an electric motor, including hybrids plug-in hybrids and battery electric vehicles
  • The electric vehicle fleet will see strong growth driven by decreasing battery costs, increasing model availability and continued support from government policies
  • Future battery costs and government policies are uncertain, hence there is a wide range of perspectives on future electric vehicle growth, with third-party estimates for 2040 ranging from a factor of three higher and lower than the Outlook
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