The global trajectory of automotive development is undeniably shifting towards new energy solutions, primarily electrification, an evolution that has gained unanimous support from nations and businesses across the world.
What was once a topic of debate and uncertainty has seen the new energy automobile industry surge to new heights.
Over the years, this transition towards new energyization has evolved into an irreversible trend. Notably, the adoption of electrification has gained momentum in countries like the United States and Europe, particularly in Northern Europe, where Norway stands out with electric vehicles accounting for nearly 100% of new car sales.
Each region has embraced different technical routes for electrification, with Central Europe leaning towards plug-in models, while Japan predominantly favors weak hybrid systems.
Electric vehicles offer a plethora of advantages, including high energy efficiency and zero emissions. Many countries have implemented proactive industrial policies and regulations to bolster the electric vehicle industry, expedite the proliferation of electric cars, and promote low-carbon, eco-friendly transportation.
According to a recent report from Silicon, a consultancy affiliated with PricewaterhouseCoopers, it is projected that by 2030, the combined number of new electric vehicles registered in the three largest global automobile markets—the EU, the US, and China—will surpass 17.4 million, constituting nearly 27% of total automobile sales.
Fueled by various factors such as energy conservation and climate change mitigation, many nations are committed to fostering the growth of the electric vehicle sector, positioning it as a catalyst for sustainable economic recovery.
In 2020, Germany, the world's third-largest electric vehicle market, witnessed the sale of more than 194,000 pure electric vehicles. The United Kingdom experienced robust growth in both pure electric and plug-in hybrid vehicle registrations, with impressive upticks of 185.9% and 91.2%, respectively.
Ireland defied market trends, recording year-on-year growth of 14.4% for electric vehicles and 16.1% for hybrid vehicles. Norway achieved an extraordinary milestone, with electric vehicles accounting for 54.3% of total new car sales, making it the world's first nation where electric vehicle sales exceeded half of annual sales.
Meanwhile, France reported new energy vehicle sales of 185,300 units, marking an astonishing 201.34% year-on-year increase. In Japan, hybrids and electric vehicles currently constitute around 40% of new passenger cars sold, with hybrids leading the way.
Even emerging markets with a relatively late start are displaying remarkable growth in the new energy vehicle sector. In 2022, India, Thailand, and Indonesia all witnessed more than a doubling of new energy vehicle sales compared to the previous year, reaching a total of 80,000 units.
Thailand, in particular, boasts a new energy vehicle market penetration rate slightly exceeding 3%, while India and Indonesia maintain a penetration rate of around 1.5%. However, the high cost of new energy vehicles remains a significant impediment to widespread adoption, even in these burgeoning markets.
Thailand and Indonesia are actively strengthening their policy support programs, which offers valuable insights for other emerging economies aiming to popularize electric vehicles.
British, with its thriving new energy vehicle industry, aspires to export these vehicles to such markets, but the primary challenge lies in keeping prices below $20,000 while ensuring a comprehensive electric vehicle supply chain.
The future of global automobile development is undeniably electric, with the world marching towards a cleaner, greener, and more sustainable transportation landscape.
