Sales of electric vehicles hit new records globally in 2021, with 6.6 million units sold; EV sales in Singapore on the up too

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SINGAPORE

Sales of electric vehicles (EVs) hit new records globally in 2021, with some 6.6 million EVs sold worldwide, according to a report from the International Energy Agency (IEA). The figure is more than double that of the sales numbers of 2020, and comes despite the global challenges of a major semiconductor shortage, and supply chain issues caused by the pandemic.

Most of the EV sales were led by China, which sold 3.4 million EVs in 2021, accounting for more than half of the global figure. Factors cited for the growth include the rush by consumers to capitalise on EV subsidies before they become progressively phased out by the Chinese government from this year, as well as the introduction of a greater variety of domestic EV models to cater to a larger segment of buyers. EVs sold in China also receive favourable treatment in some cities, such as additional subsidies and exemption from usage restrictions within urban limits.

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Europe was the other major market for EV sales in 2021, with growth increasing by 70 percent over the previous year, to 2.3 million units. IEA notes that the growth was driven by increasingly stricter emissions regulations which pushed consumers towards less polluting choices, while many European countries also increased subsidies for the purchase of EVs, further enhancing their attractiveness to buyers. EVs now make up 21 percent of new car sales in Europe, surpassing sales of diesel cars for the first time.

To illustrate the exponential growth in EV sales, the IEA notes that about 130,000 EVs were sold globally in 2012, and that amount is now sold in a single week in 2021. The IEA predicts EV sales to grow even more over the coming years, with the main drivers being government policies encouraging the take up of EVs and discouraging internal combustion engine (ICE) cars. The automotive industry too are pushing out even more aggressive electrification strategies, such as the one announced by Toyota which intends to sell 3.5 million electrified vehicles by 2030, and transition Lexus into a fully electric brand.

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In Singapore, the sales of EVs have been garnering pace as well, thanks to new Governmental policies designed to encourage the adoption of EVs here, as well as a slew of new EV models launched over the last 12 months. The Land Transport Authority (LTA) doesn’t break down sales of EVs specifically, but instead classifies new cars sold as either petrol-powered, diesel-powered or ‘Others’, with the latter ostensibly representing petrol-electric hybrids, plug-in hybrid electric vehicles (PHEVs), and full battery electric vehicles (BEVs).

It does however track the vehicle population based on propulsion system, and according to the LTA, as of the end of 2021, there are 2,942 electric private cars on the roads here, a significant increase from the 1,217 units in 2020. A huge chunk of those have come from EV brand Tesla, which sold 924 cars here in its debut year in Singapore, but with other major carmakers like BMW and Mercedes-Benz pushing forward with their EV expansion plans this year, expect the EV population to follow the global trend and hit even greater record highs in 2022.

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