The electric vehicle (EV) industry has developed at an unforeseen rate since catching public attention in the late 2000s. In 2023 alone, new electric car registrations in the United States reached 1.4 million, a 40% increase compared to 2022.
This surge in demand is not limited to the U.S.; Europe and China also saw significant increases in EV sales, with Europe recording nearly 3.2 million new registrations in 2023. With the market showing little signs of slowing down, EV sales are projected to reach around 17 million globally in 2024. That represents a 20% increase from the previous year.