Sales of electric cars double reaching 13% of the world market

by time news

2023-05-19 00:26:54

13% of the vehicles sold in 2022 were electric, reaching 10.5 million in sales worldwide. Despite the fact that consumers have shown increasing interest, the electric mobility ecosystem must also respond to promote the definitive deployment of the electric vehicle, working in six key areas so that electric mobility can be definitively deployed.

Electric traction vehicle (EV) sales have grown by 55% in 2022 and account for 13% of total vehicle sales worldwide. It is one of the main conclusions of the first edition from the report by EY.

The study estimates that by 2030, it is estimated that electric and hybrid sales represent more than half of world sales (55%) -three years earlier than what was considered in 2021-. In Europe it would mean increasing by 74%; while, in the US, 43%. EV sales will surpass other powertrains in Europe by 2027, according to research.

Growth, which, according to the first edition of this analysis, occurs in a context of frequent interruptions in supply chains, increases in the prices of raw materials, energy and high inflation; because of the geopolitical and economic situation we are experiencing. But, a demand that is explained by the growing environmental awareness of the buyer (38%), an increasingly favorable regulatory environment and an increase in the variety of the offer.

The annual study on mobility trends prepared by EY also concludes that 52% of users who consider buying a vehicle in the next two years will opt for an electric or hybrid one. On the other hand, the ability of the energy sector to create sustainable, capillary and intelligent charging networks will determine the expansion of the electric car.

Regarding the European strategy to promote the development of the EV ecosystem, the EU has focused on motivating the purchase of electric vehicles in 2022, prohibiting the sale of new internal combustion vehicles by 2035, building more than 30 gigafactories and reaching the 5 million public chargers in Europe -today, there are 139 services available for smart vehicle charging and more than 480,000 public charging points-. The latter is key; since the availability of charging stations is the main barrier to buying an electric car, followed by autonomy and price

Growing consumer acceptance

According to the study, most developed economies have proposed that electric vehicles be the only alternative for those who want to acquire a vehicle from 2035. The European Union, the United States and China are leading the process. In fact, 90% of consumers are willing to pay more for an electric vehicle and 52% plan to buy an electric vehicle as their next vehicle, the report concludes. However, not all consumers are equally convinced by the change. There are three types of consumers according to their degree of acceptance: 20% are convinced of the sustainability and safety of the electric car, 20% refuse to adapt their mobility to the electric vehicle and 60% are undecided due to the price or the lack of infrastructure.

This work also gives six keys for the definitive deployment of the electric car. are the following:

1

Supply Chain Resilience:

Invest in the optimization and autonomy of the electric vehicle production chain.

Ensure the development and deployment of renewables to decarbonise mobility in all its processes.

3

Access to a charging infrastructure:

Implement a public access charging network for all future users.

4

Smart power grid:

Modernize and increase the security of the supply network through the integration of vehicles.

Improve smart mobility services based on data generated by vehicles and stations.

Obtain a workforce with the necessary qualifications and skills through upskilling and reskilling.

Francisco Rahola, partner in charge of Markets at EY, affirms that the decarbonization of transport by replacing the world fleet of internal combustion vehicles with electric traction ones is one of the keys to the ecological transition towards a low carbon economy. “There are certain critical factors for its development, among which are the supply chain or the development of networks, in which it is necessary to continue working,” he acknowledges.

In the words of Xavier Ferré, partner responsible for the Automotive and Transportation sector in Spain at EY, he believes that industry 4.0 will be key in promoting the EV car, and ensures that digitization and the introduction of new technologies in the manufacturing process “will cover two important challenges: optimizing raw materials to speed up manufacturing much more and, two, creating a unique customer experience with significant economic and social value.”

The growth in electric sales occurs in a context of frequent interruptions in supply chains, increases in the prices of raw materials, energy and high inflation; because of the geopolitical and economic situation we are experiencing. But, a demand that is explained by the growing environmental awareness of the buyer (38%), an increasingly favorable regulatory environment and an increase in the variety of the offer.

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