The worldwide market for plug-in vehicles is taking off with over 312,000 units sold in the first quarter, a 59% increase over Q1 2017.
While the total 2017 market represents only 2 million vehicles, with China and India rushing in, and growing 50 % YOY, the goal of 100 million electric vehicles by 2030 set by the Paris Agreement is actually within reach.
India has a ways to go to reach its own goal of 100% EV’s by 2030, and with only 350 EV charging stations for half a million electric vehicles, the task is daunting. But the Modi government is clearing the infrastructure hurdles and companies are responding. Like cab-hailing firm Ola, which has been experimenting with EVs at scale for nearly a year now, and announced plans to deploy a million such vehicles over the next three years.
Over 1.2 million EV’s sold last year, with China still in the driver’s seat in 2018 (+113%) and on track to reach its goal of 2 million by 2020.
Why is that good news? Transport is responsible for about 25% of CO2 emissions globally. The more electric cars on the road, the better off the planet. It is that simple.
In the US, the trends are similar showing record growth first quarter 2018.
With California leading the way at 50% of all new EV sales.
2017 figures do not reflect Staten’s early start taken by Design Engineer extraordinaire, Michael Condon, proud owner of the most fun toy on the block: