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Global EV sales are ‘robust’ – more than 1 in 5 cars sold in 2024 will be electric

Baua Electric

While demand remained largely concentrated in China, Europe, and the US, growth also picked up in some emerging markets such as Vietnam and Thailand, where electric cars accounted for 15% and 10%, respectively, of all cars sold. Last year, global electric car sales soared by 35% to almost 14 million.

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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

Green Car Congress

Most notably, Vietnam, South Africa, Mexico and Morocco led the rankings with a combined investment of $16 billion in 2018. Excluding China alone, new clean energy installations in emerging markets grew 21% to achieve a new record, with 36GW commissioned in 2018, up from 30GW in 2017.

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The Global Outlook of Electric Vehicles

Blink Charging

IEA states that cities that started adopting EVs early may also face electricity grid congestion as electricity infrastructure catches up to the new level of electricity demand. Businesses can receive the federal Alternative Fuel Infrastructure Tax Credit for installing EV charging infrastructure that meets certain criteria.