International Energy Agency: Global electric vehicle growth is significant, reaching 145 million by 2030

The International Energy Agency (IEA) said on the 29th that by 2030, the global number of electric vehicles, buses, vans and heavy-duty trucks is expected to reach 145 million. According to the IEA’s Global Electric Vehicle Outlook, the number of electric vehicles worldwide could increase further, reaching 230 million by the end of 2030, if governments step up their efforts to meet international energy and climate goals. Both forecasts above exclude two- and three-wheeled EVs.

According to the report, new registrations of electric vehicles worldwide reached a record 3 million last year, up 41 percent from the previous year. Among them, the total number of new registrations of electric vehicles in Europe and China accounted for more than 80%.

Source: Sohu

This growth pushes the number of electric vehicles on the road to more than 10 million, including about 1 million electric buses, vans and heavy-duty trucks.

Jacob Tartini, a transport and energy analyst at the International Energy Agency, said that the global electric vehicle industry showed strong resilience last year, mainly because many countries have established regulatory frameworks to support the development of the industry, and many governments have introduced additional incentives. Guaranteed sales of electric vehicles, as well as an increase in the number of models available for electric vehicles, and continued decline in battery costs.

The International Energy Agency believes that electric vehicles play an indispensable role in the global realization of zero carbon dioxide emissions. Driven by the climate goals committed by governments, the scale of the electric vehicle industry will further expand in the future.

Electric vehicle sales have risen in 2020, even as the global auto market contracted by 16% due to the coronavirus pandemic. In the first quarter of 2021, electric vehicle sales were 2.5 times higher than in the same period a year earlier.

In a statement, IEA executive director Fatih Birol said: “Electric vehicles play an integral role in achieving net-zero emissions globally. Current sales trends are encouraging, but shared global climate and energy goals require them to dominate the market. The pace quickened.”

Birol urged governments to “invest in battery manufacturing and develop extensive and reliable charging infrastructure” using the Covid-19 economic recovery plans.

Consumer spending on electric vehicles totaled $120 billion in 2020, a 50 percent increase from 2019, the IEA said; government support measures aimed at encouraging EV use reached $14 billion, or about 10 percent of total spending, That’s down from 20 percent in 2015. This was the fifth consecutive year of decline as a percentage of total spending.

IEA energy analyst Tattini said that governments need to further tighten fuel economy standards and then ban the sale of fuel vehicles. Currently, more than 20 countries have announced plans to ban new sales of fuel vehicles. The UK has announced a ban on the sale of new petrol vehicles from 2030.

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