Zero-EmissionVehiclesFactbookABloombergNEFspecialreportpreparedforCOP27November20221Zero-EmissionVehiclesFactbook|December2023ForewordWearedelightedtopresentthethirdeditionofBloombergNEF’sZero-EmissionVehiclesFactbook,whichwasfirstlaunchedatCOP26tohighlighttheprogressbeingmadeonzero-emissionvehicle(ZEV)adoptionacrosstheworld.Thisyear’sFactbookshowsthatdespitegeopoliticalchallengesandrisinginterestrates,thetransitiontozero-emissionvehicleshascontinuedtoaccelerateoverthelasttwoyears.Decarbonizingtransportiskeytoendingdependenceonoil,reducingemissionsandimprovinglocalairquality.Whileelectricvehicleadoptionisrising,ambitionfrombothgovernmentsandautomakershasstalledinrecentyears,withveryfewnewtargetsannounced.MoreactionisneededtoreapthebenefitsoftheZEVtransition–includingcleanerair,newjobsandeconomicgrowth–andtokeeptheParisAgreementgoalswithinreach.-JonMoore,ChiefExecutiveOfficer,BloombergNEFAndrewGrantHeadofIntelligentMobilityDrNikolasSoulopoulosHeadofCommercialTransportAleksandraO’DonovanHeadofElectricVehiclesColinMcKerracherHeadofAdvancedTransportCoreyCantorSeniorAssociate,ElectricVehiclesLauraMaloYagueAssociate,ElectricVehiclesSiyiMiSeniorAssociate,ElectricVehiclesRyanFisherHeadofEVChargingInfrastructure2Zero-EmissionVehiclesFactbook|December2023ThisspecialreporthasbeenproducedbyBloombergNEFtocoincidewithCOP28,the2023UnitedNationsClimateChangeConference.SincethelastConferenceoftheParties,in2022,globalmomentumtowardzero-emissionsroadtransporthascontinuedtorise.Importantsignsofprogressinclude:●Annualpassengerelectricvehiclesalesareontracktoreacharound14.2millionunitsin2023,upfrom6.5millionin2021and10.5millionin2022.Some15.5%ofnewcarssoldgloballyinthefirsthalfofthisyearwereelectric,upfrom8.9%in2021and14%in2022.Spendingoncleanroadtransportgloballyissettoreach$685billionthisyear.●Thegrowingnumberofelectricandfuel-cellvehiclesontheworld’sroadscoulddisplacealmost1.8millionbarrelsadayofoildemandfortransportationthisyear,upfrom1.5millionbarrelsadayin2022.Thisisover4%oftotalroadtransportdemand.●Globallithium-ionbatterymanufacturingcapacityhasincreased31%since2022,from1.7terawatt-hoursto2.2terawatt-hours.●Automakershavecollectivelycommittedtosellaround47millionEVsayearby2030.Automakerssellingonlyelectricvehiclesnowaccountfornearly7%ofglobalcarsales,upfromjust1%in2020.ThisZero-EmissionVehiclesFactbookdocumentstheprogressthathasbeenmadetowardglobalnetzerointheroadtransportsector.Manyoftheindicatorsinthisreportarepointingintherightdirection,andEVadoptionisgrowingglobally.Yetambitionfrombothgovernmentsandautomakershasstalled,withnonewsignificantZEVcommitmentsmadeortargetssetin2023.National,regionalandlocalgovernmentsmustcontinuetoimplementstable,long-termpoliciesthatsupportthegrowthofzero-emissionstransportandmanagethephase-outofpollutingvehicles.ContinuedinternationalcollaborationandfinancialandtechnicalassistancewillbeneededtoaccelerateZEVadoptioninemergingeconomies.●Inover30%oftheglobalcarmarket,EVshareofnewvehiclesalesisstillbelow5%.ThisincludesimportantglobalcarmarketslikeIndia,JapanandBrazil.●EVsaccountedfor2.4%ofthe3.1millionpassengervehiclessoldinIndiainthefirsthalfof2023,crossingthe1%barrierforthefirsttime.ThisreportisstructuredaroundfourkeyelementsoftheZEVtransition:(1)marketoverview,(2)marketdrivers,(3)corporatecommitments,and(4)governmentcommitments.Wehopeyoufin...
