Electric vehicle sales are accelerating, but should drivers adapt?

Electric vehicle sales are on the rise and could hit a record this year, but drivers may still be reluctant to adapt as cost and infrastructure issues get in the way.

In a report from the Paris-based International Energy Agency called Tracking Clean Energy Progress, the agency said global electric vehicle sales doubled to nearly 9% of the auto industry by 2021, while 2022 was poised to “set a new record.” see for electric vehicles”. car sales, increasing them to 13% of total light vehicle sales worldwide.”

Sales of electrified vehicles reached 6.6 million units last year and increased by 75% in the first quarter of 2022 to 2 million units compared to the same quarter of 2021, according to the report. IEA further said it expects more than 300 units by 2030. million electric cars on the road, accounting for 60% of all new car sales, and more than the 16.5 million EVs currently being driven.

As EV sales grow, the IEA claimed they are still a long way from where they need to be to reach net-zero emissions by 2050.

The organization said in its report that electric vehicles are “not yet a global phenomenon,” citing sluggish sales in developing and emerging countries due to higher 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 moving strongly. This confirms my belief that the current global energy crisis can be a turning point towards a cleaner, more affordable and safer 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 clean energy tracking progress update looks at 55 components of the energy system, where their progress is then evaluated toward reaching “key medium-term milestones by the end of this decade,” identified by the IEA’s trajectory to net zero emissions by 2050.

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

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

The IEA update, which also discussed a range of clean energy technologies, advised that “greater efforts” were needed to meet net emissions targets by 2050, but maintained that electric vehicles were “fully on track for their 2030 milestones”.

“This current decade is a critical time to build a strong foundation for achieving long-term goals,” the IEA said.

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