Approximately 312,000 plug-in electric vehicles (PEVs) were sold globally in the first half of 2016, a nearly 50% year-on-year increase from 2015. In comparison to the general worldwide automotive market’s growth of 5% year-on-year increase, the PEV market is growing 10 times faster than the car and truck market. However, PEVs still form only 1% of the overall market. The increase is due to the rapid growth of the Tesla PEV market, which has seen a 128% increase year-on-year in 2016, driven by incentives and legislation from the government.
Approximately 312,000 plug-in electric vehicles (PEVs) were sold globally in the first half of 2016, a nearly 50% year-on-year increase from 2015. In comparison to the general worldwide automotive market’s growth of 5% year-on-year increase, the PEV market is growing 10 times faster than the car and truck market. However, PEVs still form only 1% of the overall market. The increase is due to the rapid growth of the Chinese PEV market, which has seen a 128% increase year-on-year in 2016, driven by incentives and legislation from the government.