10 Times More EVs Will Be on the Road, by the End of 2020, Compared to 2015

The number of electric vehicles on the roads would reach 10 million cars this year and actually this is 10 times more than 2015, according to Bloomberg New Energy Finance (BNEF). 

Most major carmakers have also joined this fascinating market and you are not limited to Nissan Leaf anymore. 

Although phase-out of governmental direct purchase incentives, has slowed down the sale’s growth, BNEF still estimated that the global passenger EV sales to come in at around 2.5 million for 2020. This is approximately 20% more than from 2019. China is still the largest market for EVs. But Europe follows China and will get closer to it by the end of the year. China’s EV passenger sale is comprised of close to 50% of the total global sales in the world this year, according to BNEF. Tesla’s newly opened factory in Shanghai should contribute around 150,000 to the total and make life difficult for China’s home-grown EV startups.

These numbers are fascinating, but also a threat that brings opportunities for renewable energy decision-makers and the market. With these numbers of active EVs growing over the near future, there would be a considerable press on the city grids for electricity consumption. Without a proper plan for new green electricity production capacity, the shift to EVs might not help that much, considering the environmental progress we are expecting.


Source of Information:@BloombergNEF & @Solar_Edition



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