Positive news about the growing market share of EVs

In 2021, the global market share of electric vehicles more than doubled, signaling a notable acceleration of electric vehicle adoption around the globe, albeit in some areas.

For years, industry observers have failed to comprehend the swiftness of the electric car revolution. Each year, they revise their forecasts to be more optimistic, but even the most optimistic ones today do not expect that more than 50% of the new auto market will be electric by 2030.

The analysts focused on the trajectory of EV adoption without adequately accounting for a fall in sales of internal combustion engine (ICE) automobiles as customer attitudes shift toward electric vehicles. Experts anticipate this transformation to occur in the majority of key markets by 2024-25.

The Steady Growth Of The EV Industry In Recent Years

The International Energy Agency has produced a fresh assessment of global automobile sales, confirming that the EV market share increased from 4.11% in 2020 to 8.57% in 2021.

The agency has recently reported on the remarkable growth rate of electric vehicles during the past three years.

It stated that even while the global pandemic has shrunk the market for conventional automobiles and manufacturers have begun to deal with supply chain bottlenecks, growth has been particularly impressive over the past three years.

In 2020, the overall automotive market decreased, but sales of electric vehicles increased to 3 million, representing 4.1% of total car sales. In 2021, sales of electric vehicles more than doubled to 6,6 million, representing nearly 9% of the worldwide automobile market and triple their market share from two years prior. In addition, the whole net increase in worldwide automobile sales came from electric vehicles in 2021.

They estimate that there are currently approximately 16 million electric vehicles on the highways of the world, however, these vehicles are not dispersed equitably. Europe and China have respective EV market shares of 16% and 14%, while the United States holds a 4.5% share.

In order to expedite EV adoption in the United States, the availability of electric pickup trucks in high amounts is an absolute necessity.

The Rise Of EVs In The US

It is right to say that American vehicle shoppers seem to have discovered the electric car. After a decade of modest but steady sales growth, electric vehicle registrations in the U.S. rocketed up 60% in the first quarter of 2022 even as overall new automobile registrations plummeted by 18%.

It’s the latest evidence that domestic EV acceptability may have turned some important but invisible corners recently. The emergence of interesting new models, ranging from the Ford F-150 Lightning to the Kia EV6 to the Hyundai Ioniq 5, is a major factor in the rising popularity of electric vehicles.

As per the latest reports, 158,689 new EV registrations occurred in the first three months of the year. EVs from Tesla (up 59% to 113,882 new registrations), Kia (up more than eight-fold to 8,450), Ford (up 91% to 7,407), and Hyundai were the biggest winners (up more than 300%, to 6,964).

The Latest Technology In EV Charging Stations

The unavailability of a universal charging port and the growing number of charging ports are the most challenging aspects of the EV market. The good news is that Azardio has developed technology that makes electric vehicle charging more convenient and efficient.

The company has created technology to make electric vehicle charging easier, faster, and more affordable. This implies that charging your electric vehicle will require less work; once connected, you may control the charging mode and other features directly from your app.

It will make it faster, which means the time it takes to charge the vehicle will be substantially reduced, thanks to first-to-market alloys that allow for faster electron flow without functioning as a heat catalyst. Because you can do battery analysis, monitor charging networks, and do other things while charging, the efficiency is improved.

For more information about Azardio and its projects, please refer to this website:  www.azardio.io


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