Categories: Automotive & Transportation Business Electric Vehicles Energy Generation Strategy

Charge It: Electric Vehicle Growth by the Numbers

Electric vehicles (EV) are the future. Consider the billions of dollars that automakersand tech companiesare 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

By Plastics Engineering | June 6, 2023

Recent Posts

  • Composites

Why Carbon Fiber Reinforcement Works—or Doesn’t—in 3D Printing

ANTEC® 2025 research reveals critical insights about when and why carbon fiber reinforcement succeeds or…

3 days ago
  • People

Breaking Barriers: Women in Engineering at PET Technologies

At PET Technologies, women are not only challenging stereotypes. They're driving innovation and shaping the…

4 days ago
  • Extrusion

Enhancing Energy Efficiency in Polymer Extrusion

Polymer extrusion wastes a significant amount of energy on inefficiencies. Here is how modern technologies…

4 days ago
  • Sports & Recreation

Hydrophilic Coating Gives Golf Balls a Competitive Edge

A new hydrophilic coating could give players an edge, enabling them to maintain control and…

5 days ago
  • Industry

Upcycling Post-Industrial Recycled PP for Injection Molding Applications

As industries strive to integrate recycled materials into mainstream manufacturing, researchers continue to explore ways…

6 days ago
  • Industry

4 Companies Advancing Sustainability with Recycled Content

Companies worldwide are reevaluating their production processes. One major shift is the use of recycled…

6 days ago