Electronics and Semiconductors

EVs to exceed 25% of all sales by 2025

19 July 2022

The efforts to accelerate decarbonization in the automotive market is leading to the largest transition in its history as it moves to nearly all-electrified models. As a result, sales of electric vehicles (EVs) will exceed 25% of global new vehicle sales by 2025, according to new data from TrendForce.

Other factors contributing to EV sales growth is nations and corporations rallying to eliminate internal combustion vehicles. The U.S. government has plans to replace all 600,000-plus vehicles with electrified models and build 550,000 EV charging stations to help accelerate the transition. In California by 2035, sales of all new gas-powered cars are scheduled to be banned.

Taiwan plans to ban the sales of gas- and diesel-powered vehicles in 2040 and aims to achieve zero emissions for new cars and vans globally by 2040 and zero emissions in leading markets before 2035.

Both the private and public sector are ramping up EV charging to accommodate the anticipated growth in EV sales with Electrify America — one of the largest charging network vendors in North America — setting out a plan to double its EV charging stations by 2025 to 1,800 fast charging stations and 10,000 individual chargers.

Along with many private companies expanding, national budgetary allocations will accelerate toward the construction of charging facilities, TrendForce said. Additionally, planning is underway to accommodate chargers in different locations with different specifications, meaning many facilities will be quality stations over quantity.

To accommodate all the new EVs coming to the streets, EV charging stations and ports will be critically needed. Without the proper and timely infrastructure utilization, it will be even more difficult to meet EV goals of automakers as well as to reduce the dependence on fossil fuels and reduce greenhouse gas emissions to improve climate change.

To contact the author of this article, email PBrown@globalspec.com


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