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Funding works – market share doubled: e-cars are booming worldwide

Do electric cars save the world or are they just wanted by corporations and politicians? The fact is: here they (like plug-in hybrids) are strongly promoted, which boosts sales. Last year, more than twice as many e-cars were sold worldwide as in the previous year, a total of over 6.5 million.

The market share has also more than doubled, according to an analysis by the management consultancy McKinsey: from 4.7% (2020) to 9.5%. Europe and China are jointly setting the pace when it comes to e-mobility. While China was the world’s largest market in 2021 with sales of over 3 million e-cars (battery electric vehicles and plug-in hybrids are summarized under this term in the study), Europe is with a market share of almost 20% of all new vehicles sold world leader. The top 8 countries in terms of the share of e-cars sold are all in Europe – above all Norway with a sales share for electric vehicles of almost 90%. The USA is falling behind somewhat compared to China and Europe: Although sales of e-cars there have also doubled to almost 700,000 vehicles in 2021 – albeit at an even lower level.Car manufacturers are prioritizing the production of e-cars”E-mobility is always coming more in the mass market,” says Patrick Schaufuss, partner in McKinsey’s Munich office. “The variety of models is increasing massively: by 2025, more than 500 new electric cars will come onto the market.” With 295 available electric cars, China remains the country with the largest variety of models, followed by Germany with 155 models. In China, the small vehicle segment has been growing for a number of years and now accounts for almost a quarter of the e-car market; in Europe, on the other hand, customers find smaller SUVs attractive – this segment has a market share of over a third. It is also noteworthy that sales of e-cars have increased against the general market trend: while the overall market grew from 66 to 68 million new vehicles sold grew only slightly, e-car sales increased by 108%. Schaufuss: “This is also an indicator that car manufacturers have prioritized the production and sale of e-cars in times of tight supply chains and a shortage of semiconductors.” The charging infrastructure remains critical for the success of e-mobility. There are serious differences here in a global comparison: In China, there are on average seven e-cars at a public charging point; in Germany, on the other hand, 27, in the USA 21. China also leads in this ranking in absolute terms: more than 1.1 million public charging points are available in the Middle Kingdom, in Germany there were almost 50,000 in 2021. Schaufuss: “In Europe, it is important to keep the pace of expansion high – by 2030, 5,000 to 10,000 new charging points would have to be added every week to enable the smooth expansion of e-mobility.
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