![]() ![]() The median price of an electric car in China was only 10% more than that of conventional offerings, compared with 45% to 50% on average in other major markets. Alongside lower manufacturing costs, this has significantly reduced the price gap with traditional cars. ![]() Chinese electric cars are typically smaller than in other markets. Sales also grew strongly in Europe (increasing by 65% to 2.3 million) and the United States (more than doubling to 630 000). In China, electric car sales nearly tripled in 2021 to 3.3 million, accounting for about half of the global total. The number of electric cars on the world’s roads by the end of 2021 was about 16.5 million, triple the amount in 2018. ![]() ![]() Despite strains along global supply chains, sales kept rising strongly into 2022, with 2 million electric cars sold worldwide in the first quarter, up by three-quarters from the same period a year earlier. Sales of electric cars (including fully electric and plug-in hybrids) doubled in 2021 to a new record of 6.6 million, with more now sold each week than in the whole of 2012, according to the latest edition of the annual Global Electric Vehicle Outlook. Electric car sales powered through 2021 and have remained strong so far in 2022, but ensuring future growth will demand greater efforts to diversify battery manufacturing and critical mineral supplies to reduce the risks of bottlenecks and price rises, according to the International Energy Agency. ![]()
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