“This special report, Zero-Emission Vehicles Factbook, November 2022, has been produced by BloombergNEF in cooperation with the Accelerating to Zero Coalition and in partnership with Bloomberg Philanthropies, to coincide with COP27, the 2022 United Nations Climate Change Conference. Since the last Conference of the Parties in 2021, global momentum towards zero-emissions road transport has continued to accelerate.
Important signs of progress include:
● Annual passenger electric vehicle sales are on track for around 10.6 million units in 2022, up from 3.1m in 2020 and 6.6m in 2021. 13.2% of new cars sold globally in the first half of this year were electric, up from 4.3% in 2020 and 8.7% in 2021. Spending on clean road transport globally will exceed $450 billion this year.
● The adoption of electric vehicles and fuel cell vehicles are expected to avoid almost 1.7 million barrels of oil use per day in 2022, up from 1.5 million barrels per day in 2021. This is about 3.8% of total demand.
● Global lithium-ion battery manufacturing capacity has increased 38% since 2021, from 540GWh to 806GWh.
● Automakers have collectively committed to sell around 43 million EVs per year by 2030, and automakers with planned phase-outs of combustion engines now account for 30% of the global auto market.
This Zero-Emission Vehicles Factbook documents the progress that has been made towards global net zero in the road transport sector. While many of the indicators in this report are pointing in the right direction, most still have a long way to go before we can be confident that we are on track for net zero by mid-century.”