Electric vehicle sales are accelerating, but do drivers need to adapt?

EV sales are rising and could hit a record high this year, but drivers may still be reluctant to adapt as cost and infrastructure issues stand in their way.

In a report by the Paris-based International Energy Agency, titled “Tracking Clean Energy Progress,” the agency said global EV sales had doubled to nearly 9% of the auto industry in 2021, while 2022 was poised to “another.” Vehicle sales to reach all-time high for EVs, taking them to 13% of total light-duty vehicle sales worldwide.”

Electric vehicle sales reached 6.6 million units last year, up 75% to 2 million units in the first quarter of 2022 from the same quarter of 2021, according to the report road, which will account for 60% of all new car sales, and more than the 16.5 million electric cars currently in use.

As EV sales soar, the IEA claims they are nowhere near where they need to be to achieve net-zero emissions by 2050.

The organization said in its report that electric vehicles “are not yet a global phenomenon,” citing declining sales in developing and emerging countries as a result of rising costs and limited electrification infrastructure.

IEA Executive Director Fatih Birol said in a statement: “There are more signs than ever that the new global energy economy is making strong headway. This reinforces my belief that today’s global energy crisis can be a turning point toward a cleaner, more affordable, and more secure energy system.”

“But this new IEA analysis shows the need for greater and sustained efforts across a range of technologies and sectors to ensure the world can meet its energy and climate goals,” he added.

The annual Tracking Clean Energy Progress update looks at 55 components of the energy system, where their progress is then assessed to meet “key mid-term milestones by the end of this decade” defined by the IEA path to net zero emissions by 2050 have been set.

The IEA’s report comes as President Biden recently announced incentives of up to $7,500 for Americans who buy electric cars under the Inflation Reduction Act. The law earmarks $370 billion for energy security and climate change financing.

Globally, clean energy research and development could reach $35 billion in 2022 through government funding, the organization said.

The IEA’s update, which also discussed a range of clean energy technologies, indicated that “greater effort” was needed to reach net-zero emissions targets by 2050, but claimed that electric vehicles were “right on track for their milestones.” ​​​​2030″.

“This current decade is a critical time to lay a solid foundation for achieving longer-term goals,” the IEA said.

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Fry Electronics Team

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