Friday, August 19, 2022

Global EV Shipments are up by 79% YoY with Tesla Leading the Race

- Advertisement -

According to new research, electric vehicle (EV) shipments increased 79% year over year (YoY) in the first quarter of 2022 to reach 1.95 million units, with Tesla recording amazing growth over a year.

Battery electric cars (BEVs) made up 73% of these, with plug-in hybrid electric vehicles (PHEVs) accounting for the remainder, according to market research firm Counterpoint. Shipments for the business increased by 68% year over year in the first quarter and are anticipated to reach 1.3 million units by the end of 2022.

Tesla
credit: counterpoint research

“With EVs comprising just 12 percent of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. Fresh players are entering the market to benefit from the opportunity,” Senior Research Analyst Soumen Mandal, said in a statement.

Currently, Tesla is at the top of the EV market.

“To counter new entrants, existing players are using leading-edge technologies to have improved battery, superior IVI system, and higher levels of ADAS in their EV models as major selling points,” Mandal added.

First-quarter sales of EVs in China were led by BYD Auto. Its EV shipments surged dramatically year over year by 433% to surpass 0.28 million units.

Tesla
credit: counterpoint research

In terms of EV shipments, China continued to lead the market, followed by Europe and the US. From just 0.5 million units in the first quarter of 2021 to more than 1.14 million units in the first quarter of 2022, China’s EV shipments climbed by 126% YoY.

also read:

Aadhaar: The Force leading the foundational Identity to India-First Innovations

- Advertisement -

Source

- Advertisement -
spot_img
Nivedita Bangari
Nivedita Bangari
I am a software engineer by profession and technology is my love, learning and playing with new technologies is my passion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles

Bitdefender WW

More To Consider

Stay Connected

13,642FansLike
62FollowersFollow
174FollowersFollow
Ajio [CPS] IN

Hot Topics

spot_img

Latest Articles

Trending

Bigrock [CPS] IN

Featured

Adblocker detected! Please consider reading this notice.

We've detected that you are using AdBlock Plus or some other adblocking software which is preventing the page from fully loading.

We don't have any banner, Flash, animation, obnoxious sound, or popup ad. We do not implement these annoying types of ads!

We need money to operate the site, and almost all of it comes from our online advertising.

Please add technosports.co.in to your ad blocking whitelist or disable your adblocking software.

×
%d bloggers like this: