A graph that tells you how global EV sales have changed over the past decade

In 2011, around 55,000 electric vehicles
were sold worldwide.
Ten years later, in 2021, that number is close to 7 million
.

As many countries begin to electrify, the global electric vehicle market has grown
exponentially over the past decade.
Data from the International Energy Agency shows an explosion in global sales of electric vehicles since 2011
.

The early era of electric vehicles

From 2011 to 2015, global electric vehicle sales grew at an average annual rate of 89 percent, with about one-third of those global sales occurring in the United States
.

In 2014, the United States was the largest market for electric vehicles, followed by China, the Netherlands, Norway and France
.
But that changed in 2015, when China's electric vehicle sales rose 238 percent relative to 2014, pushing it to the top of the
list.

Growth in China has been brewing for years, and in addition to incentives and policies to encourage production, the government has generously subsidized
electric vehicles.
In 2016, Chinese consumers bought more electric cars than the rest of the world combined — and China hasn't stopped expanding, accounting for more than
half of global sales by 2021.

Sales by country in 2021

After remaining fairly flat in 2019, global EV sales grew by 38% in 2020 before more than
doubling in 2021.
China is the main driver of
growth.

China has nearly 300 electric vehicles available for purchase, more than any other country, and it's also home
to 4 of the world's top 10 battery manufacturers.
In addition, the median price of electric vehicles in China is only 10% higher than that of conventional cars, while the average price in other major markets is 45-50%
higher.

Germany is Europe's largest automotive market, with nearly 700,000 electric vehicles sold in 2021, up 72%
from 2020.
The country is home to some of the largest electric vehicle factories
in Europe.
Overall, sales in Europe increased by 65%
in 2021.

The U.
S.
is also making a comeback after two years of decline, with electric vehicle sales more than
doubling in 2021.
The increase was driven by a 24 percent increase in the supply of electric vehicle models and an increase in production of Tesla models, which account for half
of electric vehicle sales in the United States.

Tesla's dominance in the United States

Tesla is the most famous electric car company in the world, and its dominance in the United States is
unparalleled.
Between 2011 and 2019, Tesla accounted for 40 percent
of all electric vehicles sold in the United States.
In addition, Tesla Motors has been the best-selling electric car model
in the United States every year since 2015.

In 2021, Tesla accounted for more than 50% of electric vehicle sales in the United States, with the Model Y launched in 2019 topping the list
.
In addition, the Model Y remained the best-selling electric vehicle in the first quarter of 2022, with Tesla accounting for 75% of the electric vehicle market share
.

Despite Tesla's popularity, it is likely to face challenges
as other automakers launch new models and expand EV production.
For example, GM aims to offer 20 electric vehicles by 2025, and Ford expects to produce at least 2 million electric vehicles
per year by 2026.
Increased competition from incumbents and new entrants could eat into Tesla's market share
in the coming years.