The electric vehicle industry is rapidly growing and the current electric vehicle statistics are nothing short of fascinating. In 2020, global electric vehicle sales surpassed the 3 million mark, with China leading the way as the largest market. The average price of an electric vehicle has also been steadily declining, making them more accessible to consumers.
In addition, the adoption of electric vehicles is expected to increase as more countries implement policies to reduce carbon emissions. Some people believe that all passenger vehicles sold globally will be electric sometime before 2050. The demand for electric vehicle batteries is also expected to skyrocket, with projections below.
These electric vehicle statistics demonstrate the potential for the electric vehicle industry to revolutionize the transportation sector and pave the way toward a more sustainable future. The electric vehicle statistics below are sorted by type of statistic.
Battery and Plugin Hybrid EV Sales
Battery and plug-in hybrid electric vehicle (EV) sales have been on the rise in recent years, driven by increasing consumer demand for more environmentally-friendly transportation options. These vehicles offer a range of benefits, including reduced emissions, improved fuel efficiency, and lower operating costs.
attery EVs rely entirely on electric power, while plug-in hybrids combine electric power with a gasoline engine, offering drivers greater flexibility and range. While these vehicles still represent a small fraction of total vehicle sales, their growth is expected to continue as automakers invest in new technologies and governments enact policies to promote clean transportation. Here are the electric vehicle statistics for the sales category:
1. 7.3 million electric vehicles were sold globally in 2022, a 59% year-over-year increase from 4.6 million EVs sold in 2021. (IEA)
2. 800k electric vehicles were sold in the US in 2022, a 70% year-over-year increase from 470k EVs sold in 2021. (IEA)
3. 2.9 million hybrid vehicles were sold globally in 2022, a 53% year-over-year increase from 1.9 hybrids sold in 2021. (IEA)
4. 190k hybrid vehicles were sold in 2022, a 19% year-over-year increase from 160k hybrids sold in 2021. (IEA)
5. 5.7% of US car sales were fully electric in 2022 (CleanTechnica)
6. In 2022, the US passed the 5% point for EV adoption as new light-vehicle registrations that marked before year-end. (Bloomberg)
7. Europe past the 5% point already, where EV sales are at a 10.6% market share in 2022. (Bloomberg)
8. The most electric trucks sold worldwide was 67,000 in 2017. The second most were 58,000 in 2022. (IEA)
9. Only 1,500 hybrid trucks were sound around the world in 2022, but that was still 50% more than the 1,000 sold in 2021. (IEA)
10. The expectation is that batteries will become more powerful, making electric trucks more commercially viable, so the projection is 420,000 electric trucks will be sold in 2023, which would be 280X the number of electric trucks that were sold in 2022. (IEA)
11. Projected annual sales for electric vehicles worldwide is 31 million vehicles in 2030, which would be 16 times the number of EVs sold around the globe in 2020. (IEA)
12. Electric Vehicle market share increased from 8.3% in 2021 to 13.0% in 2022. (EV Volumes)
13. By the end of 2023, The forecast is that the world will have 40 million EVs in operation, counting light vehicles, 73 % are Battery EVs, and 27 % are Plug-in Hybrid EVs. (EV Volumes)
14. EV sales increased while the entire market share of vehicle sales declined in 2022. (EV Volumes)
15. The company, BYD, sold over 3 times as many vehicles compared to 2021, the largest gain in year-over-year sales for any manufacturer (minimum of 500,000 sales). BYD is now the largest maker of hybrid EVs. BYD was #3 in 2021. (EV Volumes)
16. Tesla sales increased by 40% in 2022. Tesla is the largest maker of Battery EVs.(EV Volumes)
US Electric Vehicle Registrations
Sales aren’t the only electric vehicle statistics that tell a story. Registrations give us a better idea of who is buying both new and used electric vehicles.
17. There are 285.2 million EVs (cars, trucks, light duty) registered in the US. (Experian)
18. The number of EVs registered in the US is less than 1% of all vehicles. (Experian)
19. The top 3 EV retail registrations in the US are from Tesla (62.8%), Ford (6.7%), and Chevrolet (4.6%). (Experian)
20. The top 2 EV models registered are the Tesla Model Y (31.2%) and the Tesla Model 3 (25.4%). (Experian)
21. The state with the most EV registrations is California which is 36% of all EV registrations in the US. (Experian)
22. The largest market area with EV registrations is Los Angeles with 115,000 EVs. (Experian)
23. The fastest growing market area for registrations in the US. is Tucson, AZ which has an 82.33% 5-year growth rate (minimum of 1,000 registrations). (Experian)
24. The Gen X generation registers the most EVs at 37.5% of all registrations. (Experian)
EV Public Charging infrastructure
The development of public charging infrastructure for electric vehicles is critical to the transition towards sustainable transportation. EV charging stations can be installed in various locations, such as public parking lots, shopping centers, highways, interstates, and gas stations, providing convenient access for EV drivers to recharge their vehicles. Public charging stations can also help to alleviate range anxiety, which is one of the main concerns of EV drivers.
The deployment of public charging infrastructure is not yet widespread and there is a need for a more comprehensive and coordinated approach to ensure that EV drivers have access to reliable and convenient charging facilities. Governments, private companies, and utilities are collaborating to accelerate the development of public charging infrastructure, which is crucial for the widespread adoption of EVs. Here are the electric vehicle statistics regarding public EV charging infrastructure:
25. At the end of 2022, there were 2.7 million public charging points worldwide, more than 900 000 of which were installed in 2022, about a 55% increase on 2021. This is a big jump as public charging stations worldwide only grew 50% from 2015 to 2019. (IEA)
26. 360,000 slow chargers were installed in China, bringing their total supply to over 1 million. (IEA)
27. Over half the global stock of public slow chargers can be found in China. (IEA)
28. The number of fast chargers increased by 330 000 globally in 2022, though again the majority (almost 90%) of the growth came from China. (IEA)
29. In Europe the overall fast charger stock numbered over 70 000 by the end of 2022, an increase of around 55% compared to 2021. (IEA)
30. The countries with the largest fast charger stock are Germany (over 12 000), France (9 700), and Norway (9 000). (IEA)
31. The United States installed 6 300 fast chargers in 2022, about three-quarters of which were Tesla Superchargers. (IEA)
32. The total stock of fast chargers in the U.S. reached 28 000 at the end of 2022. (IEA)
Note: Due to the approval of the National Electric Vehicle Infrastructure Formula Program (NEVI), the expectation is that the number of fast chargers in the U.S. will accelerate very quickly over the coming years. This will cover 12,000 sq km
33. The number of fast chargers increased by 330 000 globally in 2022, though again the majority (almost 90%) of the growth came from China. (IEA)
34. The US has 130,700 charging points. 104,800 are Level 2 charging and 22,600 are DC fast charging. (IEA)
35. Around 8% of the US population lives more than 10 km from a public charging station. (IEA)
36. New Zealand has 57.0 EVs per charging point, the worst in the world. Korea 2.6 EVs per charging point, the best in the world. (EV Adoption)
37. The US has 18.2 EVs per charging point. (EV Adoption)
EV Tax Credits in the US (2023)
To encourage more people to buy EVs in the US, the government offers tax credits to EV buyers. The main objective of the tax credit is to boost EV adoption from the demand side by making EVs more affordable. New rules put in place for 2023 are also intended to pressure EV-makers to reduce their prices and to produce more of their components in the US.
The EV tax credit is more than just an incentive to get Americans to ditch their dirty gas-powered cars and replace them with clean, quiet zero-emission vehicles. It’s also an energy security measure aimed squarely at busting up China’s influence over the EV battery industry. Here are the latest electric vehicle statistics related to US tax credits.
38. US Tax Credits changed in September of 2022. New EV tax credits have limits. You can only use the $7500 new EV purchase tax credit on cars under $55,000 or trucks, SUVs and vans under $80,000. (JD Power)
39. You can still get a $4,000 tax credit for used EV purchases. This will only apply to used cars under $25,000 and no more than 2 years old. (JD Power)
40. Buyers can only apply the credit to a used EV that costs less than $25,000 and is at least two years old. (JD Power)
41. US EV buyers that make more than $150,000 yearly filing single, will not be eligible. (JD Power)
42. US EV buyers that make more than $300,000 annual filing joint will not be eligible. (JD Power)
43. In order for an EV to qualify for tax credits, the IRS now requires that the final assembly of the EV must occur in North America. (JD Power)
44. In order for the EV to qualify for tax credits, the IRS now requires that at least 40 percent of the critical minerals in their batteries to come from the United States. (JD Power)
45. Batteries will need to be 100% assembled from US parts by 2029 in order to qualify for tax credits. (JD Power)
Tip: If you are buying an EV and want to see if it qualifies, the NHTSA provides a VIN decoder here! Also, The US Department of Energy provides a list of EV’s that qualify for tax credits.
Other Interesting Electric Vehicle Statistics
46. The average electric vehicle produces global warming pollution equal to a gasoline vehicle that gets 88 miles per gallon (mpg) fuel economy. (UCSUSA)
47. There is now a $300 billion investment in new lithium-ion battery gigafactories with $131 billion invested in 2022, which was a 24% increase over 2021. (Benchmark Minerals)
48. China accounts for 74% of the total investment in lithium-ion battery gigafactories. (Benchmark Minerals)
49. Global automakers expect to invest $1.2 trillion in electric vehicles and batteries by 2030. (Reuters)
50. By 2040, California plans to have every transit bus converted to a clean electric bus. (Earth Justice)
Conclusion
These electric vehicle statistics provide some encouraging trends and show us the potential of electric vehicles. With a vast array of impressive numbers and figures, it’s clear that electric vehicles are not just a fad but the future of transportation. As more countries and individuals embrace this technology, we can expect to see a significant reduction in greenhouse gas emissions and a healthier planet for future generations.
