{"id":5692,"date":"2021-05-31T13:11:56","date_gmt":"2021-05-31T04:11:56","guid":{"rendered":"https:\/\/askinno.com\/global\/?p=5692"},"modified":"2021-05-31T14:29:41","modified_gmt":"2021-05-31T05:29:41","slug":"iea-predicts-electric-vehicles-worldwide-will-surpass-145-million-by-2030","status":"publish","type":"post","link":"https:\/\/askinno.com\/global\/archives\/5692","title":{"rendered":"IEA predicts electric vehicles worldwide will surpass 145 million units by 2030"},"content":{"rendered":"

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In a report<\/span><\/a><\/span> released in December last year, IHS Market, an U.K. based research company, predicted global sales of battery electric vehicles (BEV) and other EVs this year will be about 3.94 million units, an approximately 70% increase compared to the sales of 2020. The competition to be the first to switch to 100% green cars among global automakers is also heating up.<\/span><\/p>\n

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|<\/span>\u00a0IEA: \u201cEVs are set to be a more common sight on the world\u2019s roads in the 2020s\u201d<\/span><\/strong><\/p>\n

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The global automobile market is indeed leaning more towards EVs these days. In the Global Electric Vehicle Outlook 2021<\/a><\/span><\/span> published by the International Energy Agency (IEA), it is said that \u201cThere were 10 million electric cars on the world\u2019s roads at the end of 2020, following a decade of rapid growth\u201d. The report also emphasized, \u201cEVs are set to be a more common sight on the world\u2019s roads in the 2020s.\u201d<\/span><\/p>\n

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Then how many EVs (except two\/three wheelers) will be there across the globe in 2030? IEA suggested impressive numbers. \u201cIn the Stated Policies Scenario, the EV stock across all modes reaches 145 million in 2030, accounting for 7% of the road vehicle fleet.\u201d According to IEA, the number can even be higher if governments make more efforts to reach climate goals. \u201cIn the Sustainable Development Scenario, the global EV fleet reaches 230 million vehicles in 2030, a stock share of 12%\u201d.<\/span><\/p>\n

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It is also noteworthy that \u201cdespite the pandemic-related worldwide downturn in car sales in which global car sales dropped 16%\u201d, EVs sales has bucked the trend, proved by the 41% increase of electric car registrations in 2020\u201d according to IEA\u2019s numbers.<\/span><\/p>\n

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|<\/span>\u00a0IEA Executive Director urges investment in EV battery production and charging infrastructure<\/span><\/strong><\/p>\n

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\u201cWhile they can’t do the job alone, EVs have an indispensable role to play in reaching net-zero emissions worldwide,” said Fatih Birol, Executive Director of the IEA. \u201cCurrent sales trends are very encouraging, but our shared climate and energy goals call for even faster market uptake,\u201d he added. Birol continued by urging governments to increase investments in battery production and establishment of a widespread and reliable charging infrastructure by using the COVID-19 economic recovery package.<\/span><\/p>\n

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It was stated in the report of IEA that consumer spending on EVs in last year is USD 120 billion, an increase of 50% compared to 2019. However, the share of government support in total expenditure fell for five consecutive years, with a total amount of USD 14 billion. According to IEA, this suggests that although government subsidies are still important for boosting EVs market, the sales are \u201cincreasingly being driven more by consumer choice.\u201d<\/span><\/p>\n

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|<\/span>\u00a0SK Innovation accelerates global expansion to respond to the explosive growth of EV market<\/span><\/strong><\/p>\n

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SK Innovation is accelerating EV battery business not only by expanding its existing factories but also through a joint venture with a partner to respond to the booming EV market.<\/span><\/p>\n

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As reported earlier, SK Innovation and Ford signed a MOU to establish BlueOvalSK, a joint venture for EV battery production. The JV will be responsible for producing about 60GWh of EV battery cells and modules per year in the U.S. This is the capacity that can power approximately 600,000 electric pickup trucks, given that on average each truck requires 100kwh of battery.<\/span><\/p>\n

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SK Innovation\u2019s decision to establish BlueOvalSK joint venture with Ford is to strengthen its role in the EV ecosystem, especially North America market, taking a big step towards its goal of being among the TOP 3 battery makers in the world. SK Innovation\u2019s original plan by 2025 was to secure over 125 GWh of annual capcity, but with this JV, the company expects to reach a higher target of 190 GWh per year.<\/span><\/p>\n

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\u25a0 Related articles<\/strong>
\n– Securities firms raise expectations for SK Innovation\u2019s performance especially after JV announcement with Ford<\/a>
\n– SK Innovation and Ford signed an MOU to form EV battery joint venture in USA<\/a>
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  In a report released in December last year, IHS Market, an U.K. based research company, predicted global sales of battery electric vehicles (BEV) and other EVs this year will be about 3.94 million units, an approximately 70% increase compared to the sales of 2020. The competition to be the first to switch to 100% … Read more<\/a><\/p>\n","protected":false},"author":564,"featured_media":5699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,347],"tags":[35,486,34,235,13,488,208],"class_list":["post-5692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insight","category-trend_report","tag-battery","tag-blueovalsk","tag-electric-vehicles","tag-ev","tag-ev-battery","tag-iea","tag-skinnovation"],"acf":[],"_links":{"self":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/5692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/users\/564"}],"replies":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/comments?post=5692"}],"version-history":[{"count":10,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/5692\/revisions"}],"predecessor-version":[{"id":5708,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/posts\/5692\/revisions\/5708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media\/5699"}],"wp:attachment":[{"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/media?parent=5692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/categories?post=5692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/askinno.com\/global\/wp-json\/wp\/v2\/tags?post=5692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}