The International Energy Agency (IEA), a Paris-based
inter-governmental organization, recently released the latest
edition of its Global EV Outlook report. The
report highlights that, despite the deleterious impacts of the
pandemic on the automotive sector, electric car sales broke all
records in 2020 — up 40% from 2019. Approximately three
million new electric vehicles (EVs) were registered, bringing the
total number of EVs on the world's roads to more than ten
million. Europe made significant strides in EV adoption, overtaking
China as the world's largest EV market.
Consumer spending on electric cars increased to a record USD
$120 billion in 2020 — an increase of 50% from 2019.
Consumers can choose from a more extensive range of EV models,
including a wide array of new SUV models. In 2020, there were 370
EV models available, with the most significant increase in models
based in Europe. Eighteen of the top 20 global vehicle
manufacturers have announced plans to
