Charge It: Electric Vehicle Growth by the Numbers

Electric vehicles (EV) are the future. Consider the billions of dollars that automakers—and tech companies—are investing in the technology, the new models every year and regulations that promote EVs as green alternatives to internal combustion engines (ICE), and it’s clear that fuel consumption will soon be measured in watt hours versus gasoline and diesel. Here’s a look at data1 that put the coming evolution of personal and commercial transportation2 in perspective.

30% Annual demand growth for EV batteries 

3,900 Gigawatt hours (GWh) required from EV batteries to meet demand (1 GWh can power 750,000 homes) 

60 New “gigafactories” each with capacity of 256 GWh slated by 2030  

960 GWh capacity of new battery factories in Europe by 2030 (enough for 33% of demand) 

10 million First time that sales of EVs reached this level, in 2020 

43% EV sales increase in 2020 from 2019; 3.2 million units sold 

4.6% Percentage of new EV sales of total vehicle sales in 2020, up from 2.5% in 2019 

2025 Earliest announced date for phaseout of ICE sales, in Norway