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Global EV Penetration will Increase from 4.5% in 2020 to 6.1% in 2021
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In 2020, 3.2 million units were sold, of which 69.4% were Battery Electric Vehicles (BEVs) and 30.3% were Plug-in Hybrid Electric Vehicles (PHEVs). Europe emerged as a market leader with 43.3% market share for the first time in the history, overtaking China with 41.0%. Global EV penetration increased from 3.4% to 4.5% in 2020. Europe also recorded the highest Year-over- Year (YoY) growth of 137.1% in the last 6 years, helping to climb to the number one position in 2020, ahead of China. Tesla emerged as the global leader with sales of 499,512 units, followed by the VW Group with 423,871 units. Collectively, Tesla (15.2%) and VW Group (13.3%) held more than 28.5% of the EV market. Totally, 450,000 MWh of capacity has been delivered globally in the last 10 years, with 2020 delivering 139,000 MWh, 38% higher than in 2019.EV charging installations surpassed 1.1 million points compared to 750,000 in 2019, with China (accounting for 61%) having the highest number of installations. The continuously evolving sensor suite, alternate powertrain, electrical/electronic architecture, power requirements, and new chassis platforms are being integrated on a skateboard architecture, which can be used for multiple powertrains.Author: Prajyot Sathe
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