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The Electric Evolution: Navigating the Global Transition to Electric Mobility
The Global EV Outlook 2024, an annual publication by the International Energy Agency, provides a comprehensive (really long!) analysis of the recent developments and future projections in the electric mobility sector worldwide.
The report highlights the rapid growth of electric vehicle (EV) sales, with nearly one in five cars sold globally in 2023 being electric. This growth is expected to continue, with electric car sales potentially reaching around 17 million in 2024, representing over 20% of the market.
The report also underscores the significant role of policy support in catalyzing investments and building confidence in the industry’s future. However, the transition to electric mobility hinges on the availability of more affordable models to reach a mass-market tipping point, as most new models are currently larger and more expensive.
Trends in Electric Vehicles
The global electric vehicle stock reached an impressive 40 million in 2023, with two-wheelers being the most electrified segment, accounting for 8% of the global fleet. Electric bus sales…
