The Global Rise of Electric Vehicles
The number of electric vehicles (EVs) worldwide continues to rapidly increase, according to the latest data from the Center for Solar Energy and Hydrogen Research (ZSW) in Germany, reported by DPA.
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At the end of last year, there were approximately 42 million electric cars in circulation, about 50% more than in 2022. This figure includes fully electric vehicles, plug-in hybrids, and electric cars with range extenders, as reported by Agerpres.
According to ZSW, 23.4 million electric cars were in China, accounting for more than half of the global stock. Following at a considerable distance are the United States, with 4.8 million, Germany, with 2.3 million, and France.
Electric Vehicle Market Growth
China continues to dominate the electric vehicle market, with 1.6 million vehicles sold last year, followed closely by the UK with 1.5 million. Long-term projections suggest that China’s dominance is unlikely to change, with a 60% growth rate this year that is much stronger compared to other countries.
Germany’s Electromobility Goals
In order for Germany to achieve its electromobility goals, the market needs to be stimulated, according to Andreas Püttner from ZSW. He believes that the German government’s initiative to promote electric cars is just the first step and suggests phasing out subsidies for gasoline and diesel vehicles.
Top Electric Vehicle Manufacturers
Last year, the top manufacturers of fully electric and plug-in hybrid vehicles were Chinese company BYD (with over three million vehicles), American company Tesla (with 1.8 million), and German group VW (with one million vehicles).
Powerful Electric Cars Taking Over the Market
In recent years, there has been a surge in the production of high-performance electric cars, challenging traditional sports car manufacturers. One such example is a powerful Corvette with over 1,000 horsepower, which has been dubbed as a potential rival for the Porsche 911.
Leading the Market
BMW takes the sixth spot with approximately 570,000 units sold, while Mercedes follows closely behind in tenth place with around 400,000 electric vehicles on the market.
