Electric Car: The pace of growth in sales of electric cars may be slowing down in many major markets around the world, but it is still increasing. A clear indication of this can be found in the fact that in the month of January, global sales of electric cars may cross the 10 lakh mark for the first time. According to UK-based market research firm Rho Motion, global electric car sales reached 1 million. And this is an increase of 69 percent compared to 660,000 units sold in January 2023.
Highest demand in European market
Combined, 92,741 units of electric vehicles (EVs) were registered in the European market in January, which is 29 percent more than in the month of January 2023. EV sales in China passed 700,000 (including plug-in hybrids), a 37 percent decline from a month earlier. According to data from the China Association of Automobile Manufacturers, this is still 79 percent more than in January 2023. Overall new vehicle sales in the US declined last month, but demand for EVs remains strong.
Electric cars will be cheaper
Let us tell you that the day is not far when EV will come at the price of fuel cars. Yes, because a study by the International Council on Clean Transportation (ICCT) has predicted price parity between EV and ICE cars by 2029. The study claims that the cost of battery manufacturing will drop significantly and electric vehicles will become mainstream with low maintenance costs.
