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EE - Electric Vehicles

 An electric vehicle (EV) is a vehicle that uses one or more electric motors for propulsion. It can be powered by a collector system, with electricity from extravehicular sources, or it can be powered autonomously by a battery (sometimes charged by solar panels, or by converting fuel to electricity using fuel cells or a generator). EVs first came into existence in the late 19th century, when electricity was among the preferred methods for motor vehicle propulsion, providing a level of comfort and ease of operation that could not be achieved by the gasoline cars of the time. Internal combustion engines were the dominant propulsion method for cars and trucks for about 100 years, but electric power remained commonplace in other vehicle types, such as trains and smaller vehicles of all types. In the 21st century, EVs have seen a resurgence due to technological developments, and an increased focus on renewable energy and the potential reduction of transportation`s impact on climate change, air pollution, and other environmental issues.





Electric vehicle sales may increase from 2% of global share in 2016 to 30% by 2030. Much of this growth is expected in markets like North America, Europe and China

Global EV sales reached a record-high of 6.9 million in 2021, a 107% increase from 2020. It is the first time since 2012 that the global EV sales doubled in one year. Of the vehicles sold, 98% were light-duty vehicles (LDVs) and 2% were heavy-duty vehicles (HDVs). By the end of 2021, cumulative global sales of EVs reached 18.6 million, a 58% increase from end of 2020. Of these vehicles, 95% were LDVs while HDVs accounted for 5%. In 2021, the global average EV share of new vehicle sales achieved an all-time high of 8.3%, up from 4.2% in 2020.

Approximately 3.5 million EVs were sold in China in 2021, 150% higher than the 2020 level. This represented 51% of the world`s total EV sales in 2021, compared to 42% in 2020. Europe as a single market closely followed China as the world`s second largest EV market. In 2021, 2.3 million EVs were sold in Europe, a 66% increase from 2020. This accounted for 34% of the global total, compared to 42% in 2020. Seven of the top ten national markets in terms of annual EV sales in 2021 were in Europe, including Germany, the United Kingdom, France, Norway, Italy, Sweden, and the Netherlands. The United States and South Korea ranked 3rd and 9th, respectively. The United States reached a record-high EV sales of 667,731, a 103% increase from 2020. South Korea also recorded all-time high EV sales of 115,137, 128% higher than 2020.