LONDON--(BUSINESS WIRE)--The global electric cars market continues to grow rapidly and the latest breakthrough in the global auto industry has been the increased demand and adoption of electric cars. There are now over 2 million electric cars on the road, marking an impressive leap from virtually zero electric cars on the road fifteen years ago.
In a recent article titled Electric Cars Market: From Zero to 2 Million in Fifteen Years, BizVibe takes a look at the significant growth of global electric car sales and how government organizations in many nations are trying to push the mass adoption of electric vehicles.
BizVibe notes that newly registered electric cars around the world hit a new record in 2016, with over 750,000 electric cars sold worldwide, meaning that the total global electric car stock exceeded 2 million units in 2016, registering a market growth of 60% year-on-year. China is currently the largest electric vehicles market in the world when it comes to sales and stocks. In 2016, over 350,000 electric vehicles were sold in China.
When it comes to electric vehicle market share by country, Norway leads with 29% of all electric car market share, followed by the Netherlands and Sweden in second and third places, with 6.4% and 3.4% electric car market shares respectively. China, France and the United Kingdom all have electric car market shares close to the 1.5% range. Meanwhile, a multi-government program named the Electric Vehicle Initiative has been introduced recently, with the aim of driving market share of electric vehicles to 30% worldwide by 2030.
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