MOSCOW (Pakistan Point News / Sputnik - 09th November, 2021) Global sales of electric vehicles will reach 7 million, and their share of the total new car market will exceed 10% by the end of the year, Norwegian analytical agency Rystad Energy said on Monday.
"Rystad Energy estimates that EVs... will account for around one in every 10 new cars purchased, with a global market share of 10.3%, up from 5.3% in 2020. This market share will be a new global record," the agency predicted in the report.
It is noted that last year sales of electric vehicles in the world amounted to 3.2 million, and by the end of 2021, this figure is expected to reach 7 million. The total car sales this year will amount to 69 million, the agency estimates.
Analysts attribute this rapid growth to the widespread use of electric vehicles in China. This way, in September, the share of sales in the country was about half of the global. At the same time, about one in five cars in China is an EV.
Norway became the record holder for the sale of electric vehicles after China with more than 90% of cars sold in September being electric. Other countries with the fastest-growing sales figures and share of electric vehicles, as analysts noted, are Germany, France, the UK, Sweden and the United States.
The agency's longer-term global forecast states that by 2030, electric vehicles will account for 72% of the total car market, and by 2040, almost all cars in the world will be electric.
