Good news! Electric vehicles (EV) are here to stay. The research projects that EVs will slowly but steadily take over the global car market. Climate change is at that worrying stage where predictions of cars with zero emissions becoming the new normal are very much welcome. Here are interesting electric car statistics about the growing market industry.
The Types of Electric Cars
There are two types of electric cars – The Battery Electric Vehicle (BEV) is driven purely by an electric motor with battery energy storage.
The Hybrid Electric Vehicle uses a combination of electric power and petrol or diesel. They may either be Non Plug-in or Plug-in Hybrid Electric Vehicle (PHEV).
Electric car statistics indicate that BEVs are the more popular with approximately 65% of the global market share. However, PHEVs are catching up fast, recording a faster growth forecast period. There is an estimated growth potential of 40.7% by 2027.
What Are the Costs Involved?
The average price of electric cars was estimated to be $55,600 in 2019 down from $64,300 in 2018, a 13.4% decrease. The key to cheaper EVs is cheaper batteries. A Hyundai IONIQ Electric Trend is €33,000 while its petrol counterpart, the Hyundai i30 1.4 T-GDI Trend DCT, is €24,550. The electric version is 34% more expensive. This is because the Hyundai IONIQ’s battery alone makes up about 40% of its total value.
There’s hope. The price of batteries has steadily fallen year by year. Research from Bloomberg New Energy Finance shows that falling battery costs will mean electric vehicles will be cheaper to buy in the United States and Europe as soon as 2025. For example, Elon Musk announced his goal of a $25,000 Tesla by dramatically cutting the costs of battery packs.
Where, when, and how you charge your EV is also a factor in costs. For example, charging with state-of-the-art fast charging stations increases charging costs by over 70%, compared to charging your EV with the slow-charging equipment that came with the vehicle. Again, charging the car overnight when electricity demand drops and prices are low can save at least 30%, compared to charging during the day.
The Best-Selling EVs
In 2020, the Tesla Model 3 was the world’s most popular plug-in electric vehicle with about 365,000 in sales. Deliveries of two of Tesla’s EVs, the Model 3 and Model Y, increased by almost 90% yearly and accounted for 60% of Tesla’s sales volume.
Tesla had a massive 18% share in global EV sales, way ahead of its nearest rival, Volkswagen, which minus its sub brands had only a 6% market share in global EV sales. Other car manufacturers; Renault, Mercedes-Benz, Volvo, Audi, and Hyundai each had a 4% market share.
However, Volkswagen plans to catch up, and already has a head start in Europe. They launched 9 new electric and plug-in hybrid models in 2020, a success in Europe. It brought their shares in Europe up to 12.4%, from only 2.3% in 2019. The ID.3, the most popular of its BEVs, had a 23.8% share in the German market and 23% in the Netherlands.
The German automakers said over 70% of its European sales will be EVs by 2030, up from the 35% target. It expects half of its sales to be EVs in the United States and China by that timeframe.
According to new research, as at January 2021, Tesla’s share of the European battery electric vehicle market has dropped, recording a 3.5% registration in key markets compared to the over 5% market share in 2020.
Covid-19 and Electric Car Statistics
According to electric car statistics, in China, the World’s largest car market, 2020 sales were 80% lower than in 2019. In the US, EV sales in 2020 dropped by 50%. Then by 60% in Germany and 90% in France. The severity of lockdowns determined how low sales were.
Interestingly, EV sales were not hit as hard as non-electric sales.
Electric Cars And Climate Change
Research from the Universities of Exeter, Nijmegen and Cambridge shows that in 95% of the world driving an electric car is better for climate change, proving that fears that EVs could actually increase carbon emissions are unfounded. The exceptions are countries where electricity generation is still mostly based on coal, like Poland.
Average emissions from EVs are up to 70% lower than petrol cars in countries like Sweden and France, where most electricity comes from renewables and nuclear. The study projects that all over the world every second car will be electric by 2050, reducing global CO2 emissions by up to 1.5 gigatons per year. That is huge. For context, that is the equivalent of all the current CO2 emissions in all of Russia.
The Future of EVs
With new government policies and company pledges plus investments, the future is EVs. The electric car statistics show that the United States, for instance, has taken several steps. President Joe Biden has announced a plan to replace the entire fleet of vehicles owned by the US Government with electric vehicles.
Again, a report by the National Renewable Energy Lab (NREL) in 2020 found that about 12.0% of Level 2 charging equipment and 49.6% of DC fast EV charging equipment had been installed. Overall, there was a 6.9% increase in the number of electric vehicle supply equipment.
Also, the Safer Affordable Fuel-Efficient (SAFE) vehicles final rule, put in place in March 2020, replaced the 2012 rule, lowering the annual improvement in fuel economy standards from 4.7% in the 2012 rule making to 1.5% in SAFE for model years 2021 through 2026.
On the manufacturing side, General Motors has pledged to only sell electric cars by 2035, ending production of its diesel and gasoline engine cars, trucks and SUVs. The company plans to use 100% renewable energy to power its US facilities. Stellantis, the product of a merger between Fiat Chrysler and French company Groupe PSA, plans to have fully electric or hybrid versions of all of its vehicles in Europe by 2025.
On the global level, more than a dozen countries have announced 100% zero-emission vehicle targets, a phase-out of internal combustion engine vehicles by 2050. France was the first country to put this intention into law in 2019, with a 2040 time-frame.
Clearly, the future is electric.
Read more in-depth articles here.