Study Projects China to Account for 57 per cent of Global EV Sales by 2035

Japan’s Fuji Keizai Group has projected that China will account for 57 per cent of the toal sale of EVS in the world by 2035. The Japanese company which specializes in market research estimates that the total global sales of EVs will amount to 11.25 million units in 2035. This is almost 15 times the 760,000 EVs that were sold in 2017. Of this total figure, China is expected to account for 6.42 million EVs.

The second largest market for EVs in the world will be in Europe where the sales are expected to reach a figure of 2.17 million electric cars (19.3 percent), followed by North America at 1.36 million (12 per cent) and Japan at 450,000 (4 per cent).

Fuji Keizai also forecasts worldwide sales of plug-in hybrids to reach 12.43 million cars by 2035, compared to the 400,000 that were sold last year. The company again expects China to be the largest market, with sales of 4.65 million cars (37.4%), followed by Europe at 3.81 million (30.7%), North America at 2.47 million (20%) and Japan at about 900,000 (7.2%).
Fuji Keizai estimates that the sale of hybrid vehicles will reach a figure of 4.2 million vehicles every year by 2035, which is again, double the level of sale of hybrid vehicles in 2017. Japan is expected to be one of the frontrunners in this market with sales of 1.31 million cars (31.1 percent) with North America getting the second spot with 1.03 million hybrids (24.5 percent). Europe came third with 580,000 (13.8 per cent) and China fourth at 510,000 (12 percent).