A five-year EV retrospective: Looking back as World EV Day™ enters its fifth year

This year marks a pivotal moment in EV history, as World EV Day™, the world’s largest emobility campaign, enters its fifth year. World EV Day™ is a groundbreaking global campaign, beginning conversations, inspiring decisions, and turning the world’s attention to the benefits of emobility. 

As the campaign’s official Media Partner, we are very excited to celebrate this milestone on the 9th of September. So, what better time to look back at the progress of the industry, and acknowledge how far we’ve come since the inception of World EV Day™ back in 2019.  

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2019: A milestone year

In 2019, the global electric car fleet witnessed a monumental expansion. Sales surpassed 2.1 million units, marking a staggering 40% year-on-year increase. This surge propelled the total electric car stock to an impressive 7.2 million vehicles. 

Key markets emerged in China, Europe, and the United States. Supportive regulatory frameworks and increased incentives played a crucial role in driving consumer adoption. More than 20 countries announced bans on conventional car sales or mandated all new sales to be zero-emission vehicles (ZEVs).

2020: Resilience amidst challenges

Despite the challenges posed by the COVID-19 pandemic, the EV industry exhibited remarkable resilience in 2020. Electric car registrations soared by 41%, outpacing the overall downturn in car sales globally. 

Europe, for the first time, surpassed China to become the world’s largest EV market. This signalled a significant milestone in the industry’s growth trajectory. Public spending on EV incentives doubled, reaching nearly $30 billion. This reflected governments reaffirming their commitments to decarbonise the transportation sector.

2021: Accelerated growth and policy support

In 2021, the growth of the EV industry accelerated further. Electric car sales doubled to reach a record 6.6 million units. China regained its crown as the global leader in EV sales, accounting for 60% of global electric car sales. 

Europe and the United States also witnessed robust growth, with sales increasing by 15% and 55% respectively. Ambitious policy programs provided additional impetus to market growth. These included the Fit for 55 package in the European Union and the introduction of the Inflation Reduction Act in the United States.

Moreover, advancements in battery technology and manufacturing processes continued to drive down the cost of EVs. Finally, they were slowly becoming more affordable for consumers. The availability of a diverse range of EV models expanded rapidly. Major automakers announced plans to widen their portfolio of models and scale up production of light-duty electric vehicles.

2022: Consolidation and expansion

The momentum in the EV industry continued into 2022. Electric car sales surged by 35%. China maintained its leadership position, driving global electric car sales with a 75% increase compared to the previous year. Europe and the United States also saw significant growth, with sales increasing by 65% and doubling respectively.

One of the notable developments in 2022 was the increasing emphasis on domestic battery manufacturing and supply chains. Governments in Europe and the United States promoted industrial policies aimed at reducing dependence on imports and fostering domestic production of EV components. Major investments were announced in battery manufacturing projects, aiming to meet the growing demand for electric vehicles and secure a stable supply chain.

2023: Bright prospects ahead

The global EV industry soared to unprecedented heights in 2023, marking a year of remarkable growth. Sales surged to 14.1 million units worldwide, representing a staggering 34% increase compared to the previous year. 

Notably, the United States witnessed a remarkable 55% surge in electric car sales. This propelled the market share of BEVs to a new record of 7.9% in the third quarter of 2023. This was a significant leap from 6.1% just a year prior.

In China, electric cars captured a substantial 22% share of total sales. This collective momentum propelled the global EV market to new heights, surpassing the £200 billion mark in value. Over 10 million EVs graced roads worldwide, with more than 6 million plug-in EVs sold annually.

The EV market’s value reached £388.1 billion, with projections indicating a further surge to £951.9 billion by 2030. As the world sets its sights on a greener future, the achievements of the EV industry in 2023 stand as a testament to the collective efforts towards driving positive change and embracing innovation in mobility. 

2024: Fleets, and the early mainstream

So far, 2024 has been the year of the fleet. Trucks, buses, and light-commercial vehicles (LCVs) have been instrumental to EV sales records so far. Businesses and company cars have helped to boost this trend. 

Major factors such as range anxiety have been left in the past. Now, charging reliability and purchase costs have become the main talking point. However, news from the early stages of this year already indicates that low-cost EVs will be commonplace within the next 18 months. 

Manufacturers worldwide are deep into their decarbonisation strategies. We’re seeing major investments in large-scale manufacturing plants the world over. These plants, capable of being run sustainably, are massively increasing global EV output. 

New models are being introduced with increasing frequency. The global battle for market dominance continues between manufacturers, with BYD and Tesla trading the crown. Furthermore, public charging initiatives and major destination charging partnerships are making emobility far more equitable. 

2024 has the power to be a pivotal year in EV history. The groundwork has been laid and the industry continues to grow. This year, World EV Day™ will continue the positive growth and expansion of the EV market.

With partners spread across the globe, World EV Day™ has a substantial impact on the future of the EV sector. It’s our chance to show the world how far the industry has come, and to demonstrate that the modern EV world is far more accessible to everyone. 

As a World EV Day™ partner, your business is at the forefront of the emobility transition. Bespoke content on and around the 9th of September bolsters your activities. Alongside this, access to exclusive graphics and media solidifies your position as an industry leader. Building on the tremendous success of World EV Day™ 2023, this year’s campaign promises to be bigger than ever. 

Contact Sarah Middleton today to discuss your World EV Day™ partnership opportunities: sarah.middleton@green.tv

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