Electric vehicles are nothing new, but its adoption just hit another level. A survey by JP Morgan points out that the number of cars, buses and even electric trucks in transit worldwide has reached a new record in 2020 – surpassing a point of no return on the global journey to zero-emission motoring.
Electric vehicles (EVs) accounted for 4.2% of light vehicle sales in 2020 (almost double the 2.5% they represented in the previous year). In 2019, eight countries had a 5% or more share of EVs in light vehicle sales, while by 2020 electric vehicles exceeded 10% in light vehicle sales in thirteen countries.
The Nordic countries make up the top five of the Share of EVs: Norway, Iceland and Sweden lead the ranking as they accounted for, respectively, 75%, 45% and 32% of Sales of EVs in 2020. As Europe speeds up, the United States falls behind in the race for electric vehicles with the lowest share of EVs, only 2.3%.