EV Transition Reaches Tipping Point in China and Europe
Electric vehicle sales in China as well as Europe have crossed a critical threshold that researchers say has initiated an irrevocable transition away from internal combustion engine vehicles to EVs. Analysis of global sales data from 2016 through 2023 shows electric vehicle adoption ramping up exponentially in 32 nations, with the worldwide fleet doubling every 18 months. The transition appears to have reached a point where it will continue accelerating on its own momentum, though current growth rates still fall short of what climate targets require. The U.S., China, and the European Union dominate sales, with electric vehicle fleets doubling every 1.7, 1.0, and 1.3 years respectively. Traditional combustion engine car sales began declining steadily…