Global Electric Cars Touch 2 Million Units
According to the International Energy Agency, the number of electric vehicles plying on the roads rose in the year 2016 to record high of 2 million.
Although there is a long way to go in the field and much more is needed for helping the environment, this growth is helpful and encouraging.
In a report, IEA said that the number of electric cars in 2015 was 1 million units. Electric vehicles include plug-in hybrid, fuel cell, and battery-electric passenger light-duty vehicles. In 2016, the numbers doubled; although, the global electric vehicles numbers are only 0.2% of the total passenger light-duty vehicles in the circulation.
IEA said, “The number of cars(electric) that were sold was good, but there is a long path ahead before reaching numbers which are capable of making a significant contribution to the targets for greenhouse gases emission.”
Electric cars will need to reach a figure of 600 million units by the year 2040; a number of this nature will help limit temperature increase to below 2°Celsius by the end of the century.
Due diligence, research and development for mass production and improvements are slowly resulting in decreasing the battery costs, and hopefully, this trend will continue to narrow down the gap between EVs and internal combustion vehicles.
IEA also speculated that there is a good scope that carmakers will be building up to 9-20 million EVs by 2020 and 40-70 million electric cars by 2025.
However, the electric car market has been concentrated in a few countries only yet. Around the world, 95% of the EV sales take place in just ten countries: Sweden, China, the United States, Canada, Japan, Britain, Norway, France, the Netherlands and Germany.
The third of global electric car stock is now in China, who replaced the United States as the world leader in this.
Although the battery costs have steadily decreased due to innovation since 2009, it still represents a major chunk of the cost and retail prices of EV.
One of the reasons for this increase in EV sales are the incentives such as tax breaks, rebates, or exemptions.