The State of the EV Revolution in 2023

The State of the EV Revolution in 2023

By Erika Masako Welch, 02 October 2023

One in every seven cars sold during Q1 2023 was an Electric Vehicle, and over 14.5 million EVs are expected to be sold by the end of this year. 

That would put the total global EV stock to over 40 million. 2022 saw over 10 million new electric car sales globally, which is equivalent to the total number of electric vehicles that existed around the world in 2020, just two short years ago. The growth is mind-boggling. By 2030, conservative estimates expect 138 million EVs to be humming along streets around the world, which would be an explosive 26% cumulative annual growth rate from 2021 to 2030. By 2030, 25 million new EVs will be sold annually

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The State of the Electric Vehicle Revolution 2023

Global electric vehicle (EV) stock has surpassed 30 million, and China is home to over half of all the EVs on the world’s roads. 1 in 7 new cars sold last year was electric, and by 2030, we will have 138 Million EVs.

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