Electric vehicle sales have surged by 500% in Q1 2024, driven by aggressive government policies and falling battery costs. Major economies now require 60% of new cars sold to be electric by 2030, creating frenzied demand across Asia and Europe.
A recent UN climate report warns:
Delaying EV adoption could escalate global CO₂ emissions by 2.5 billion tons annually.Industry analysts highlight three critical factors:
- Tax incentives up to $12,000 per vehicle
- Ultra-fast charging networks doubling yearly
- Solid-state batteries slashing prices to $75/kWh
Automakers like Tesla and BYD are racing to secure lithium supplies, with some countries declaring battery minerals strategic assets. However, critics argue current infrastructure can’t support 100 million EVs projected by 2027.
