The number of cars with electric drives continues to rise rapidly worldwide. By the end of 2023, the global stock had reached around 42 million, which corresponds to an impressive increase of 50 percent compared to the previous year. The Center for Solar Energy and Hydrogen Research (ZSW) has calculated this data, taking into account pure electric cars as well as plug-in hybrids and vehicles with range extenders.
China dominates the e-car market
China is the undisputed center of the electric car boom. With 23.4 million e-cars, the country accounts for more than half of the global stock. The USA follows with 4.8 million vehicles, while Germany is in third place with 2.3 million e-cars. France and the United Kingdom complete the top 5 with 1.6 and 1.5 million electric vehicles respectively.
China's dominance is expected to continue. In 2023, China recorded growth of 60 percent, which is significantly higher than in the USA or other relevant markets. This trend shows that China will remain the most important market for electric vehicles.
Tesla leads the list of the most common e-cars
Tesla tops the list of global electric car manufacturers. The Model Y and the Model 3 are the world's most registered electric cars, with just under 2.5 million and just over 2.3 million vehicles respectively. Tesla's success is partly due to its limited range of models, which allows buyers to focus on just a few models. The Chinese brand BYD and Volkswagen follow as the largest manufacturers of pure electric cars and plug-in hybrids with 3 million and one million new registrations respectively in 2023.
Europe needs new impetus for electromobility
Despite the growth, European manufacturers are lagging behind. In Germany, which is struggling with tight budgets, new impetus is urgently needed to achieve climate protection targets. Andreas Püttner from ZSW emphasizes that the German government's growth initiative to promote electric company cars can only be a first step. He proposes abolishing climate-damaging subsidies for conventional vehicles in order to further boost the market for electric vehicles.
An attractive range in the lower and mid-range vehicle segments is crucial to reach a broader group of buyers. Otherwise, Chinese manufacturers could fill this gap, even if the introduction of punitive tariffs at European level tries to prevent this.
Conclusion
The global rise of e-cars is impressive, with China and Tesla playing a leading role. However, in order to meet climate targets and remain competitive, European manufacturers need to focus more on innovative and affordable models. The coming years will be crucial in driving electric mobility forward and shaping the transition to a more sustainable future.
