The number of electric cars on the roads around the world rose by 60 percent year-on-year to 2 million in 2016, following a year of strong growth in 2015, according to the latest edition of the International Energy Agency's (IEA) Global Electric Vehicles Outlook on Wednesday. The report says that China remained the largest market in 2016, accounting for more than 40 percent of the electric vehicles (EV) sold in the world.
"Between 9 million and 20 million electric car could be deployed by 2020, and between 40 and 70 million by 2025, according to estimates based on recent statement from carmakers," according to the IEA. The report also states that the electric car market is set to transition from early deployment to mass-market adoption over the next decade or so. With more than 200 million electric two-wheelers and more than 300,000 electric buses, China is by far the global leader in the electrification of transport.
China, the U.S. and Europe made up the three main markets, which totaled over 90 percent of all EVs sold around the world. The report also highlights that electric car deployment in some markets is swift. "In Norway, electric cars had a 29 percent market share last year, the highest globally, followed by the Netherlands with 6.4 percent, and Sweden with 3.4 percent," the report says.