The International Energy Association (IEA) reports the amount of plug-in electrified vehicles on the road globally passed the one-million mark during 2015.
This comes more than a year after U.S. Energy Secretary Ernest Moniz conceded that the Obama Administration’s 2011 goal of having a million PEVs – including both plug-in hybrids and pure EVs – on the road was not met.
According to the IEA, global EV sales were at 477,000 in 2015, moving the total volume to 1.15 million, up 70 percent over 2014 levels. That means that sales rates are starting to keep pace with the IEA’s 2DS scenario, which is a scenario in which there’s a 50-percent chance of limiting global average temperature rise since the preindustrial era to 2C. In order to do this, CO2 emissions need to be cut to almost 60 percent of 2013 levels by 2050.
“Electric cars are roughly 10 years behind wind and solar in terms of deployment and technology development. Still, electric car technology is also gathering momentum. Electric cars increasingly capture the consumer’s imagination,” said Laszlo Varro, the IEA’s chief economist, in an interview.
Four countries – the U.S., China, the Netherlands, and Norway – account for 70 percent of EV sales worldwide, with China becoming the world’s largest EV market in 2015. There are also now six countries where EVs have more than one percent of the market share, as opposed to three in 2014.
Annual sales growth will need to be at 66 percent through 2020 and 39 percent through 2025 to maintain the 2DS track. Expanding charging infrastructure and improved driving range are key drivers to improved annual sales, according to the IEA.