From Zero to Millions: The Electrifying Rise of Electric Vehicles Worldwide
In 2010, there were virtually no electric cars on the world’s roads. Only about 17,000 electric cars existed globally. The introduction of models like the Chevrolet Volt and Nissan Leaf marked the beginning of mass-market EVs. By 2019, the global EV stock had surged to 7.2 million, with China leading the way, accounting for nearly half of all electric cars1. The decade witnessed exponential growth. In 2020, the global electric car stock reached a significant milestone: 10 million vehicles. Battery electric vehicles (BEVs) dominated, constituting two-thirds of new EV registrations and stock. China boasted the largest EV fleet with 4.5 million electric cars, while Europe saw the most substantial annual increase, reaching 3.2 million. Despite the economic repercussions of the Covid-19 pandemic, global electric car sales share rose to a record 4.6% in 2020. Approximately 3 million new electric cars were registered, with Europe leading the way at 1.4 million new registrations. China followed closely with 1.2 million registrations, and the United States registered 295,000 new electric cars. The future: The momentum continues. Major automakers are committing to EVs: Volvo plans to sell only electric cars from 2030. Ford will focus on electric car sales in Europe from 2030. General Motors aims for all-electric light-duty vehicles by 2035. Volkswagen targets 70% electric car sales in Europe and 50% in China and the US by 20302. In 2022, around 1 in 5 new cars sold globally were electric, with Norway leading at over 4 in 5 and China at around 1 in 33. The transition to electric mobility is accelerating, driven by technological advancements, environmental awareness, and supportive policies. Buckle up—the EV revolution is in full swing! 
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