BEIJING: Global new energy passenger car sales are predicted to exceed 39 million units by 2030, said a report obtained during the China EV100 Forum 2024 concluded Sunday in Beijing, reported Xinhua.
That will mark a penetration rate of almost 50 per cent, rising from the nearly 20 per cent in 2023 with the sales of over 13 million units, according to the report issued by China EV100, a new energy vehicle (NEV) industry think tank, and McKinsey & Company.
The past decade has seen unprecedented changes in the global NEV industry, especially in terms of the market landscape, consumer preferences, technological capabilities and supply chain systems, said the report titled "Racing to 2030: Outlook on the Development of Global EV Industry."
Though the global NEV penetration rate is rising rapidly, regional differences in the NEV development have become increasingly apparent, the report noted.
By 2030, the penetration rates of new energy passenger cars in the European Union, South Korea, and the United States are anticipated to reach 65 per cent, over 55 per cent, and over 50 per cent respectively, it said.
By contrast, those of Japan, India, Southeast Asia, and Latin America are estimated to achieve 27 per cent, 10 per cent, 30 per cent, and 14 per cent respectively.
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"The (Chinese) market has entered a new phase of commercialisation, driven even more by technology innovation and consumer preferences," Timur Gul, chief energy technology officer of the International Energy Agency, said in his video address to the forum.
The rapid NEV industry development is closely related to the constant technological innovation in batteries and motors, which contributes to the electrification and popularisation of NEVs, the report said.
With advanced technologies such as intelligent driving and generative AI, NEVs can offer better intelligent service experience, it added. –BERNAMA-XINHUA