EV car sales – including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) – reached 10.5 million in 2022, up 55% from 2021.

Three largest markets remained China, Europe and US. Around 60% of global sales (5.9 million) EVs came from (29% growth year-on-year), 26% (2.7) million in Europe (15% yoy), and 9% (1 million) in US (55% yoy). India, Thailand and Indonesia also saw stronger growth reaching sales of 80,000.

Over 26 million #ev cars were on the world’s road in 2022, up 60% from 2021 and more than 5 times the 2018 global stock. 2022 also saw for the first time China having more than 50% (13.8 million) of the world’s electric cars on the road. Europe had 30% of the global stock while US had 10% (3 million) of the global total.

What has driven the EV sales? Government policies in response to climate change, coupled with / resulting investments, competition and growing number of more affordable models.

Source: IEA’s Global EV Outlook 2023 (https://iea.blob.core.windows.net/assets/dacf14d2-eabc-498a-8263-9f97fd5dc327/GEVO2023.pdf)