A research company called EV-Volumes.com reported that customers bought 783,000 electric vehicles in the first six months of 2018, representing a 66% year-over-year increase. These include battery-powered vehicles (BEVs) and plug-in hybrid vehicles (PHEVs).
The report goes on to say that global sales of electric vehicles will cross 2 million this year. The researchers expect 2.1 million orders – 64% more than last year.
BEVs are all-electric vehicles that are powered by rechargeable batteries and are gaining popularity all over the world. 64% of the electric vehicles sold in the first half of 2018 were BEVs while the remaining 36% were PHEVs.
The figures above do not include medium and heavy commercial vehicles. EV-Volumes.com expects these to add another 280,000 units in 2018, mostly in China.
They also expect China to be the largest contributor to the increase in sales. The company predicts that 1.1 million electric vehicles will be sold in China in 2018.
China was also one of the fastest growing markets in the first half of 2018. Other fast-growing markets include Denmark, South Korea, Canada, Finland, The Netherlands, Denmark, and Spain.
Electric Cars are Pacing Ahead of Fuel Cars
As mentioned earlier, electric vehicles are gaining popularity all over the world. They do not emit any fumes, so governments are incentivizing their use as a climate control effort.
Electric vehicles are also becoming more affordable as automakers and battery manufacturers work to decrease costs and increase efficiency. In any case, electric vehicles are still more economical than fuel-powered cars in the long run because of rising oil prices.
Moreover, electric cars are becoming more efficient and reliable than gas-powered cars. Battery packs have longer lives than before and even have a better range now. The charging technology is evolving too; it doesn’t take as long to charge an electric car with a fast-charging charger.