Electric cars reach two million globally, says IEA report

According to a new report issued by the IEA, the number of electric cars worldwide reached over two million by the end of 2016.

The IEA found that globally, 95% of electric car sales are taking place in just ten countries: China, the US, Japan, Canada, Norway, Britain, France, Germany, the Netherlands and Sweden.

While China is the biggest auto market after the United States, it has topped the countries with high demand on electric cars driven by a government plans to reduce pollution.

The IEA report noted that the European market of electric vehicles relies on six countries providing fiscal exemptions to motivate people on buying such cars. In Norway, fiscal incentives reached 29% and other Europeans pay over 5000 or 6000 euro for each purchase of electric cars. In the Netherlands, electric cars had a 6.4% market share last year, while Sweden had 3.4%.

Room for growth

The organisation said in its report that electric vehicles only made up 0.2% of total passenger light-duty vehicles in the world, meaning that for each 1,000 traditional vehicles, only two electric cars are being sold.

[quote] It adds that the number of electric cars will need to reach 600 million by 2040 in order to limit global warming by the end of the century. To meet this target, the electric cars industry should be gradually developed so 9 and 20 million electric cars could be deployed by 2020, and between 40 and 70 million by 2025, and so on till sales reach
the set goal in 2040.

The IEA says that the sector will benefit from the support of motivating government measures for a long time. Big companies aiming to benefit from specific exemptions are the biggest users of electric cars.

A release by the Asharq Al-Awsat Newspaper said that researchers working in the traditional vehicles industry pointed out that automakers are trying to cope with the authorities calling for emission reduction not by investing in developing electric prototypes, but in deploying eco-friendly qualifications on thermal cars.

The release added that the IEA still calls on governments to increase support and incentives on electric vehicles regardless of their cost and the volatile oil prices. The IEA believes that thermal and electric cars should not be compared, but rather considered as two integral industries.

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