Considering the mutual excitement of engineers, analysts, and policymakers, it starts to feel inevitable that the 2020s will be the decade when electric vehicles (EVs) will achieve their potential.

So, how’s the EV market scaling? (Feel free to skip to the next section if you’re not into sales reports)

Finally, 2020 became a great year for plug-in vehicles. With only a few details still to be reported, the expected global BEV+PHEV sales of 3.24 million, compared to 2.26 million against the previous FY. What started with an unexpected economic downfall during the 1st quarter of 2020 due to COVID-19 became a success story for EVs in Europe. Nearly 1.4 million BEVs and PHEVs were registered in Europe during the year 2020, 137 % more than in 2019, in a vehicle market that was down by 20 % year-on-year. It was the combination of new lucrative models, incentive boosts by green recovery funds, the 95g CO2 mandate, much-improved availability, and intense promotion of EVs spanning the whole of Europe.

Europe superseded China as the motor of EV growth. For the first time since 2015. Europe is further ahead in terms of EV share: BEVs+PHEVs increased from 3.3 % in 2019 to 10.2 % in 2020, counting the EU and EFTA countries, including the UK. The NEV share in China increased from 5.1 % to 5.5 % during this period.

Outside Europe, the growth of EVs was slower but still significant. China NEV sales recovered strongly during the 2nd half and were up by 12 % for the year. EV sales in the USA increased by a mere 4 %, despite the launch of the Tesla Model-Y. Fortunes varied in other markets, with strong declines in Japan, Canada, and Australia, while increases in South Korea, Taiwan, India, Israel, UAE, and Hong Kong outperformed the losses.

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