‘Electric Car Production to Grow to 145 Million by 2030’

‘Electric Car Production to Grow to 145 Million by 2030’

The number of electric vehicles plying the road is projected to jump to 145 million over the next nine years if governments globally continue to beef up efforts to meet international energy and climate goals.

According to a report by CNBC citing the International Energy Agency’s Global Electric Vehicle Outlook, the number was even expected to rise further to 230 million by the end of the decade.

Data exclude two- and three-wheeled vehicles.

Last year alone, the number of new electric vehicles rose by 41 percent to three million, the highest record to date, despite the pandemic dampening global economies.

The said increase was complemented by approximately 1 million electric buses, heavy trucks, and vans.

Consumer spending on electric cars in the same year jumped by 50 percent to $120 billion, with government support measures designed to encourage electric vehicle take-up seen hitting $14 billion.

In a statement, IEA executive director Fatih Birol was quoted as saying that while electric vehicles cannot do the job alone, they have “an indispensable role to play in reaching net-zero emissions worldwide.”

“Current sales trends are very encouraging, but our shared climate and energy goals call for even faster market uptake,” he added.

Birol urged governments to invest further in battery manufacturing and the development of widespread and reliable charging infrastructure.

Going electric has been the new trend in the automobile market as nations look to increase the number of low- and zero-emission vehicles on their roads to arrest air pollution and move away from the internal combustion engines.

The UK, for instance, has laid out plans to halt selling new diesel and petrol cars and vans beginning 2030.

Meanwhile, the European Commission through its Sustainable and Smart Mobility Strategy wants at least 30 million zero-emission cars by 2030.

Major carmakers are now struggling to increase electric vehicle offerings, challenging Tesla, which is at the forefront of producing such vehicles.

Photo by Mikes-Photography from Pixabay

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