The World's Electric Vehicle Fleet Will Soon Surpass 20 Million

China and Europe are driving most of the adoption, with North America a distant third source of sales. 

Up next: emerging markets.

The world is about to pass another important milestone in electric vehicle adoption: 20 million plug-in vehicles on the road globally, come June, according to BNEF estimates. That’s remarkable growth from only 1 million EVs on roads in 2016. 

In the second half of 2022, almost a million EVs a month will be added to the global fleet, according to BNEF estimates. That’s about one every 3 seconds. Vehicles eventually get retired from the fleet due to age, wear-and-tear, crashes and battery degradation. But that’s not a big part of the EV story so far, mostly because the majority of EVs in the global fleet were sold in the past 18 months. By the end of 2022, BNEF is expecting over 26 million plug-in vehicles on the road.

News source: https://www.bloomberg.com/news/articles/2022-04-08/plug-in-ev-fleet-will-soon-hit-a-20-million-milestone