Crossing 10% Global EV Adoption is Huge

Past technology adoption S curves all point to rapid accelerated adoption after 10% adoption is crossed. Battery electric car adoption has reach 13% in Europe and China. Norway’s electric car adoption is the most relevant data point for how fast the adoption will move. Norway went from 10% battery electric market share to over 70% in six years.

Global electric car demand should shoot up by over 5 million cars per year for the next 6 years. 2024, 2025, 2026 should see electric car demand grow by about ten million cars per year.

Factories and battery supply that is ready to ramp now will capture this demand.

SOURCES- Our World in Data
Written by Brian Wang,