Global EV sales surge 109%, China dominates: report

Globally 6.5 million EVs were sold in 2021, and nearly half of all the EVs were sold in mainland China.

February 24, 2022 05:54 pm | Updated 07:08 pm IST

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China | Photo Credit: Reuters

Global electric vehicle (EV) sales, including plug-in hybrid passenger cars, surged 109% in 2021 compared with 2020, according to a report by research firm Canalys.

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Globally 6.5 million EVs were sold in 2021, and nearly half of all the EVs were sold in mainland China, 2 million more than the previous year’s sales, research firm Canalys estimated.

Europe and U.S.’s share of EVs as a proportion of their overall car sales was low, according to the report. In Europe, 19% of all new cars sold were EVs, and in the U.S., only 4% of new cars sold were EVs.

Canalys highlighted that the chronic component shortages was continuing to affect car makers around the world.

Tesla leads the global EV market with 14% share, followed by Volkswagen Group, SAIC, BYD, Stellantis, BMW group, and Hyundai Motor Group.

India electric vehicle market is expected to grow 23.47% annually during the 2021-2026 period and reach $17.01 billion by 2026, according to estimates by market intelligence firm Mordor Intelligence. The firm valued India’s electric vehicle market at $5.47 billion in 2020.

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