Total Global Electric Passenger Vehicle Stock In Millions

The global electric vehicle (EV) stock has witnessed exponential growth over the past decade, rising from just 0.2 million in 2012 to a projected 42 million by the end of 2025. The global electric vehicle (EV) stock grew at a compound annual growth rate (CAGR) of approximately 53.4% between 2012 and 2024. This dramatic rise is largely driven by the rapid expansion of battery electric vehicles (BEVs), which now make up over three-quarters of the global EV fleet. Supportive government policies, declining battery costs, rising climate consciousness, and an expanding selection of EV models have all contributed to this surge. Major markets like China and Europe have led the charge, but adoption is now spreading globally. As infrastructure improves and costs continue to fall, the
global EV stock is expected to grow even more rapidly in the years to come.