The Covid-19 pandemic unexpectedly propelled an acceleration in the adoption of electric vehicles (EVs). Major economies across the globe began to look to the electrification of transport as a means of stimulating economic recovery in the pandemic’s aftermath while also cutting the transport sector’s carbon footprint.
Both Europe and the United States have taken determined steps toward developing sustainable mobility with Europe introducing enhanced incentives for EV adoption
and the US targeting a 50% zero-emission new vehicle sales goal by 2030
. And in China – currently the front-runner in the shift to the electrification of transport – the EV market has continued to expand its market share in the country.
In the first ten months of 2021, EV output and sales in China rose nearly two-fold from the same period last year, and the penetration rate reached 16.4%, data from China Association of Automobile Manufacturers (CAAM) showed.