The global electric vehicle market share is expected to approach 10% in the next 5 years


According to the Yonhap News Agency reported on July 17, with the decline in battery prices and the increase in environmental protection in major economies, the global electric vehicle market share continues to expand, and the expansion rate may increase by double digits in the next five years, accounting for the global automotive market share. Approaching 10%.

According to a report released by global market research firm Energy Trend, global electric vehicles are expected to account for 5% of global car sales in 2020, and this percentage will rise to 9% in five years. In 2017, global electric vehicle sales accounted for only 1%.

The report pointed out that the decline in battery prices, the rise in international oil prices, the global increase in carbon dioxide governance, and the encouragement of China's electric vehicle market development have all affected the expansion of the global electric vehicle market. Although the price of cobalt, an important raw material for electric vehicle batteries, has risen, the overall manufacturing cost has been reduced by new technologies. Previously, the price of lithium-ion batteries that once fell below $200 per kWh was estimated at $250-300 per kWh this year, compared to $400-600 last year.

In addition, due to the increase in cruising range, electric vehicle sales are expected to increase significantly in the next few years. At present, the single-end cruising range of electric vehicles is between 200-400 kilometers, and the number of single-charge cruising mileage will be greatly increased. Coupled with the increasing global environmental governance, in order to reduce greenhouse gas emissions, the world's major economies are striving to reduce carbon dioxide emissions, driving the sales of electric vehicles.

China's incentives for electric vehicles will largely promote the global electric vehicle market, which will promote the development of the electric vehicle battery industry.



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