The E-mobility market in 2023 was full of ups and downs across major markets. The passenger car EV market grew by around 32%, a fall from 57% growth in the previous year. Most EV sales are concentrated in three key markets—China, Europe, and the United States. In China, NEV market share crossed 36% of total vehicle sales in 2023 with a gradual growth. In Europe, EV Sales increased to around 18.5% of total vehicle sales in Q1, fell to 13% in Q2, recovered to 15% in Q3 and 17% in Q4 2023. In the US, EV Market share increased to ~8% from 5.8% in 2022. Following this trend, demand for EVs is expected to continue growth in 2024, but at a slower rate.
Please complete the following requested information to flag this post and report abuse, or offensive content. Your report will be reviewed within 24 hours. We will take appropriate action as described in Findit terms of use.