Electric cars take a sharp turn towards the mainstream

Sales take off around the world

The global fleet of electrified cars now stands at nearly 13 million vehicles, 8.5 million of which are zero-emission models, powered exclusively by electricity or hydrogen. Although this fleet represents only 1% of the global fleet, there is definite momentum.

In 2021, sales of electric cars increased by more than 80% to reach 5.6 million units sold, thanks in particular to the unprecedented commitments made by industry and governments around the world in recent years.

China now counts the most electrified vehicles on the road (5.5 million), far ahead of Europe (4.1 million). Between them, China and Europe account for three quarters of the world's electric fleet. The United States follows, with nearly two million electrified vehicles in circulation. In Europe, for the first time ever, sales of electrified cars exceeded those with diesel engines in the summer of 2021.

While gasoline models remain the majority, the sales dynamic of electric vehicles has never been so strong. It is worth noting that from spring 2022, all new car sales in Norway should be electrified models 100% electric or plug-in hybrids.

This will make the Scandinavian country the very first in the world to switch completely to a new, fully electric era.

According to a study published by Ernst & Young, electric cars should form the majority of cars sold worldwide by 2033. In Europe, the tipping point could come even earlier, as early as 2028.

A 100% electric offering in less than 20 years

During COP26, most of the major carmakers officially committed themselves to stopping production of combustion engine vehicles entirely by 2040 at the latest. The others have already taken steps in this direction.

Volvo is in the lead in this area, with all of its current models now 100% electric or rechargeable hybrids. But whether it's Ford, General Motors, Jaguar Land Rover, Mercedes-Benz or Volkswagen, all the other major car companies are planning to stop producing electric cars within the next 15 to 20 years.

Prices continue to drop

For a long time, the cost was seen as the main obstacle to buying an electric car, but prices are expected to drop considerably in the coming years. The tipping point should come, at the latest, in 2027. By then, these cars should be cheaper on average than equivalent gasoline and diesel models.

From 2026 onwards, an electric sedan in Europe should cost less than 20,000 euros, with a continuing downward trend, albeit much less pronounced, in subsequent years. By 2030, an electric SUV and compact car should cost on average around 20,000 and 10,000 euros respectively, i.e., two to three times less than today.

More and more charging facilities

In Europe, the Netherlands, with an average of 47.5 recharge points every 100 km, is the best performer in this area, ahead of Luxembourg (34.5) and Germany (19.4). France, with a score of 4.1 charging points available every 100 km, still has some way to go.