Global Explosion of Electric Cars
42 million. This is the impressive number of electric and plug-in hybrid cars circulating today in the world. The electric car is no longer a futuristic concept reserved for pioneers. With 42 million electric and plug-in hybrid (PHEV) vehicles on the road at the end of 2023, this technology is asserting itself as an undeniable reality and a major player in global mobility.
A spectacular but uneven global growth
In just one year, the global fleet of electric and PHEV cars has grown by 50%. China largely dominates the market with 23.4 million electric and PHEV vehicles in circulation. This dominance is due to proactive government policy and the rise of very competitive local manufacturers. The United States, with 4.8 million vehicles, follows in second place. In Europe, Germany, France, and the United Kingdom are trying to catch up with 2.3 million, 1.6 million, and 1.5 million vehicles respectively.
BYD and Tesla leading the manufacturers
On the manufacturers’ side, the Chinese BYD stands out as the leader with 3 million new registrations in 2023, including PHEVs. Tesla remains a key player with 1.8 million new registrations, supported by the success of the Model Y and Model 3. European manufacturers like Volkswagen, BMW, and Mercedes struggle to keep up, with respective figures of 1 million, 570,000, and 400,000 cars.
Challenges and perspectives for the future
European manufacturers must face numerous environmental and economic challenges to remain competitive. Asian competition, notably from brands such as MG, Xpeng, BYD, Zeekr, and Nio, represents a serious threat. The production and recycling of batteries as well as the reduction of the carbon footprint of manufacturing are also crucial issues.
Future of the European market
In recent months, sales of electric cars in Europe have been declining, partly due to the removal of financial incentives for purchases. However, the European Union wants to ban the sale of thermal vehicles by 2035 to promote cleaner powertrains.