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Electrification On And Above - EVs To Constitute 13% Of Light-Duty Vehicle Sales In 2022, Says IEA

Benzinga Real-time News ·  Sep 23, 2022 07:14
  • Electric Vehicle sales are expected to hit an all-time high in 2022, said the International Energy Agency (IEA).
  • IEA, in its annual Tracking Clean Energy Progress (TCEP) update, cited electric vehicles (EV) and lighting are fully on track for their 2030 milestones in its net-zero by 2050 scenario.
  • The Paris-based organization said 2022 is expected to see another all-time high for electric vehicle sales, lifting them to 13% of total light-duty vehicle sales globally.
  • Also Read: What Recall? Elon Musk Says Term 'Outdated And Inaccurate' For Tesla's Latest NHTSA Order, Prefers This Instead
  • EV sales doubled worldwide in 2021 to account for almost 9% of the car market.
  • TCEP update assesses 55 components of the energy system, like sectors, technologies, infrastructures, and cross-cutting CO2 mitigation strategies, and evaluates their progress in 2021 towards reaching key medium-term milestones.
  • "There are more signs than ever that the new global energy economy is advancing strongly," said IEA executive director Fatih Birol.
  • IEA believes global governments' spending on clean energy research and development could reach $35 billion in 2022.
  • The note comes as a boost to electric vehicle companies, including Tesla Inc (NASDAQ:TSLA).
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