Global Government Electrification and Net Zero Targets

Countries are adopting electrification targets, with over 30 countries pledging to have a minimum of 30% of new vehicle sales be electrified by 2030.

Tokyo has committed to all new car sales in the city being limited to hybrids or electric vehicles by 2030, while Japan’s national target is 50% of all new car sales being electric or hybrid by 2030.

Germany, Costa Rica, and 10 out of 50 US states, have all committed to 100% of all new car sales being electric by 2050.

China’s government driven EV strategy is leading the country in worldwide EV sales.

The country is expected to surpass its 2035 target to achieve 50% EV stock by 2030.

EV’s are on pace to make up a third of all China auto sales in 2023.