Electric vehicles accounted for 10% of global auto sales last year — this could quadruple by 2030
appears to have achieved a key milestone ahead of schedule last year, and it could be poised to surpass even more expectations in the decade ahead. the Wall Street Journal reported
, citing preliminary research from the automotive research groups LMC Automotive and EV-Volumes.com. The uptick helped electric vehicles achieve a roughly 10% global market share in the automotive industry for the first time, WSJ reported. While 10% is only a modest share of the total market, the industry is growing faster than some had predicted. In 2021, for instance,projected that it would take until 2030 for the EV industry to reach between 7% and 12% of global auto sales.
Europe and China have led the way, where electric vehicles already account for 11% and 19% of total car sales respectively, WSJ reported, citing data from LMC Automotive. "Last year, every fourth vehicle we sold in China was a plug-in, and this year it will be every third auto," Ralf Brandstätter, the head of Volkswagen AG's China business, told WSJ."We haven't reached the tipping point yet, but we're expecting to get there between 2025 and 2030."
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