According to the International Energy Agency (IEA) and its latest Global Electric Vehicles Outlook report, plug-in electric vehicles (EV) are becoming commonplace on roads all across the world. It states that the number of electric and plug-in hybrid cars globally exceeded 3 Mn in 2017, a 54% increase compared to 2016.
China continues to be dominant in the electric vehicles market, accounting for half of the total EVs sold globally last year. Nearly 580K electric cars were sold in China in 2017, a 72% increase from the previous year. The US sold the second-highest number of EVs — about 280K — in 2017, up from 160,000 in 2016.
Meanwhile, Norway accounted for 39% of new car sales. In Iceland, new EV sales were 12% of the total car sales while their share in Sweden was 6%. Germany and Japan also saw strong growth in EV sales, which more than doubled in both countries since 2016.
One of the biggest catalysts for EV growth has come from battery costs declining, the IEA highlighted.
In India, too, electric vehicles are slowly gaining traction. States such as Karnataka, Maharashtra, Uttar Pradesh, Andhra Pradesh, and Goa have shown commitment to replacing diesel- and petrol-fuelled vehicles with EVs. Meanwhile, Telangana has become the fourth state to have its own electric vehicles policy.
On the other hand, Bolivia has shown a keen interest in helping India in acquiring lithium used for manufacturing EV batteries. According to Bolivia’s Ambassador to India, Sergio Dario Arispe Barrientos, his country is willing to sign a preferential trade agreement (PTA) with India for select goods.