There were 10 million electric cars on the world’s roads at the end of 2020. Electric car registrations increased by 41 per cent in 2020, despite the pandemic-related worldwide downturn in car sales, in which global car sales dropped by 16 per cent. Around 3 million electric cars were sold globally (a 4.6 per cent sales share), and Europe overtook the People’s Republic of China as the world’s largest EV market for the first time.
The resilience of EV sales in the face of the pandemic rests on three main pillars—supportive regulatory frameworks, additional incentives to safeguard EV sales from the economic downturn, and expansion of the number of EV models and lower battery costs.
Policy Initiatives
India too has made tremendous policy changes to meet its EV goals. It is a participant in the EV30@30 Campaign, which aims for the sales share of EVs to reach 30 per cent by 2030 among the participating countries.
This story is from the January 2022 edition of TerraGreen.
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This story is from the January 2022 edition of TerraGreen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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