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The #electricvehicle market share of total light-duty vehicle sales has significantly increased in the US in recent years, according to an S&P Global Commodity Insights data analysis. Plug-in #EV sales had an average monthly market share of 9% in 2023, up from 7% in 2022, according to the S&P Global EV Essentials report released in February. With EV sales continuing to make up a larger share of total light-duty vehicles in the US each year, analysts and experts question if charging infrastructure, #electricgrids and necessary #lithium supply will keep pace. More from Daniel Weeks in the latest Commodity Insights Magazine: https://lnkd.in/gBFCwwMt

🗯️ I believe charging infrastructure remains one of the biggest challenges in the EV race, especially for developing countries. It seems to be a significant hurdle in the progress of EV implementation, along with having a sufficient and consistent supply of the underlying commodities to sustain the EV arena.

The tipping point has come... and sailed: "The latest IEA Outlook report asserts that global EV sales are set to remain “robust” in 2024, reaching around 17 million by the end of the year. In Q1, sales grew by about 25% year-over-year – similar to the growth rate seen in the same period a year earlier but from a larger base. The number of EVs sold globally in Q1 2024 is roughly equivalent to that in all of 2020. According to the IEA’s report, ensuring that the availability of public charging keeps pace with EV sales is crucial for continued growth. The number of public charging points installed globally was up 40% in 2023 relative to 2022, and DC fast charger growth outpaced that of Level 1 and 2 chargers." https://lnkd.in/eMDkF_y3

It’s time we stopped burning fossil oil to power ICE vehicles. Let’s put fossil oil & gas to better use in manufacturing products… “More than 1 in 5 cars sold globally this year is expected to be electric, with surging demand projected over the next decade, says a new International Energy Agency (IEA) report. Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA’s annual Global EV Outlook, released today. The latest IEA Outlook report asserts that global EV sales are set to remain “robust” in 2024, reaching around 17 million by the end of the year. In Q1, sales grew by about 25% year-over-year – similar to the growth rate seen in the same period a year earlier but from a larger base. The number of EVs sold globally in Q1 2024 is roughly equivalent to that in all of 2020.” “This growth builds on a record-breaking 2023. Last year, global electric car sales soared by 35% to almost 14 million. While demand remained largely concentrated in China, Europe, and the US, growth also picked up in some emerging markets such as Vietnam and Thailand, where electric cars accounted for 15% and 10%, respectively, of all cars sold.” Read more in this article by Michelle Lewis

In 2022, global demand for automotive battery capacity increased by 67% (to 550 GWh) compared to 2021 (330 GWh), primarily due to growth in light-duty vehicle (LDV) sales. In the U.S. and China, battery demand for vehicles grew by approximately 80% and 70%, respectively, in 2022 relative to 2021. Government policy and subsidies have been a major driver of EV deployment and are expected to be critical in accelerating global EV growth over the coming decades. In 2022, more than 90% of global electric LDV sales were in countries with policies (e.g., fuel economy and pollutant standards, zero-emission vehicle mandates, and purchase incentives and subsidies) that encouraged EV sales. Learn more 👉 https://bit.ly/3wo4ERM #netzero #greenenergy #batterystorage #energyfuture #EVs

#Electric #car sales continue to #grow #globally and are expected to hit around 17 million in 2024. Tight #margins, #volatile #battery #metal #prices, #high #inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry’s pace of growth, but global sales data remain strong. ✅ In the first quarter of 2024, electric car sales increased by approximately 25% year-on-year, maintaining the growth trajectory from the previous year. ✅ Market shares are becoming impressive, with projections of 45% in China, 25% in Europe, and over 11% in the United States by the end of 2024. ✅ As soon as 2030, almost one in three cars on the roads in China is electric in this scenario, and almost one in five in both the United States and European Union. ✅ In China, more than 60% of electric cars sold in 2023 were already cheaper than their average combustion engine equivalent. ✅ From 2022 to 2023, investment announcements in EV and battery manufacturing totaled almost USD 500 billion.

EV industry set to end its best sales year in spite of subsidy cuts. This year marked a reduction in subsidies for electric two-wheelers (e2W), a category that constitutes around 55% of the overall EV sales. Electric vehicle (EV) sales this year have witnessed a robust increase of over 45 per cent so far, notwithstanding the subsidy cuts and regulatory shifts. Total EV registration figure in 2023 is just shy of 1.5 million units, significantly higher than last year’s score of a little over 1 million. All this has pushed the overall EV penetration in the country beyond 5 per cent – to 6.3 per cent against 4.8 per cent in 2022. Source- Business Standard

Around 17 million electric cars are projected to be sold this year, driven by factors like price parity and environmental consciousness. To support this growth, the expansion of charging infrastructure is crucial. Be a part of an electric and sustainable future and reach out to EV today to learn more about EV-enablement and our low-cost, zero hassle charging solutions. #ChargingInfrastructure #EVRevolution #SustainableMobility

Your regular reminder that posts announcing the death of the energy transition are complete nonsense Rising EV sales are set to remake the global auto industry and significantly reduce oil consumption for road transport, according to the new edition of the IEA’s annual Global EV Outlook https://lnkd.in/dUuhJU88

A recent report by Rho Motion revealed that global electric vehicle (EV) sales reached 0.8 million units in February 2024, growing by 3% y-o-y. Europe saw a 21% year-over-year growth in the first two months of 2024, the United States and Canada experienced a 33% increase, and China led with a 34% rise in EV sales. These figures indicate strong growth in key markets, driven by consumer demand, policy incentives, and industry innovation. With the increasing adoption of electric vehicles, the global demand for lithium is expected to surpass 2.4 million metric tons by 2030. We are committed to supporting the development of this sector, ensuring a secure, sustainable, and responsible supply of essential raw materials for the global energy transition. #EVs #HybridVehicles #AutomotiveIndustry #Lithium