Plug-in vehicles are becoming increasingly popular, with the number of passenger EVs on the road set to reach 77 million by 2025, or 6% of the global fleet,
a notable rise from today’s 20 million.
According to Adamas Intelligence, in the first half of 2022 global passenger EV registrations jumped 42% YoY to 6.23 million.
While in its previous outlook BNEF projected passenger EV sales at 14 million
in 2025, this year it has upped its forecast to 20.6 million,
with plug-in vehicles to make up a hefty 23% of new passenger vehicle sales globally, up from just under 10% in 2021 (see Fig. 1). Such staggering growth will come largely from China and Europe (almost 80% of total EV sales), with the adoption rate there expected above the global average level.