Electric car sales hit record highs in 2021 and remain high so far in 2022

The International Energy Agency has published a report "Global EV Outlook 2022," Qazaq Green reports with reference to the official website of the Agency.

Few areas in the world of clean energy are as dynamic as the electric car market. Sales of electric vehicles (EVs) doubled in 2021 from the previous year to a new record of 6.6 million. Back in 2012, just 120 000 electric cars were sold worldwide. In 2021, more than that many are sold each week. Nearly 10% of global car sales were electric in 2021, four times the market share in 2019. This brought the total number of electric cars on the world’s roads to about 16.5 million, triple the amount in 2018. Global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter, up 75% from the same period in 2021.

Four recommendations to accelerate the uptake of EVs worldwide:

1 – Maintain and adapt support for electric cars

As the electric car market matures, reliance on direct subsidies must decrease and eventually fade out. Budget-neutral feebate programmes – which tax inefficient internal combustion engine vehicles to finance subsidies for low emissions or EVs purchases – can be a useful transition policy tool. Stringent vehicle efficiency and/or CO2 standards have promoted EV adoption in most leading EV markets and should be adopted by all countries seeking to hasten the transition to electromobility.

2- Kickstart the heavy-duty market

More heavy-duty electric models are available, and electric buses and trucks are becoming competitive on a total-cost-of-ownership basis across more and more applications. Policy-led deployment can help kickstart this sector. Zero emission vehicle sales mandates, purchase incentives and CO2 standards can all help speed up the transition.

3- Promote adoption in emerging and developing economies

Electrification of road transport in emerging and developing economies should prioritise two/three-wheelers and urban buses, as these vehicle types are most cost competitive. Price signals and charging infrastructure availability can also help the economic case for electrification.

4- Expand EV infrastructure and smart grids

Governments should continue to support deployment of publicly available charging infrastructure at least until there are enough EVs on the road for an operator to sustain a charging network. Continued government support, either through regulations requiring the building out of charging stations or through fiscal policies and support, should ensure equitable access to charging for all communities to ensure that nobody is left behind in the transition. Incentivising and facilitating the installation of home chargers in existing parking spaces is important. Mandating EV charging readiness for new buildings can help. At the same time, local authorities should support the installation of chargers in existing buildings. Co-ordinated plans on grid expansion and enhancements, including digital technologies to facilitate two-way communication and pricing between EVs and grids, are needed now to ensure that EVs can become a resource for grid stability rather than a challenge.

25.05.2022