According to BloombergNEF (BNEF), electric vehicles (EVs) accounted for 7.2% of global car sales in the first half of 2021.
Back in 2019, they accounted for 2.6% and 4.3% in 2020.
In the same report, BNEF expected EVs to make up 20-30% of sales in the United States, European Union and China by 2025.
The reasoning is that proposed and confirmed rules in these markets will start to change new car sales.
According to the report, BNEF estimates that 5.6 million EVs will be sold in 2021. 83% higher than 2020, and a shocking 168% increase over 2019 sales.
As EVs rise in sales, eleven automakers further committed to transition all of their auto sales to zero-emission by 2040. This includes GM, Ford, Jaguar Land Rover, Mercedes-Benz and Volvo.
The commitment will also lead these automakers to transition to zero-emission sales in some ‘leading markets’ by 2035.
We should note, some automakers were missing from the zero-emission pledge signed during cop26.
Neither Toyota nor Volkswagen signed.
As well, some major markets did not sign including the United States, Japan, China and Germany.