IN DECEMBER 2021, sales of electric vehicles overtook sales of diesel cars for the first time in Europe, as 176,000 EVs rolled out of car dealerships across the continent. At the same time in China, the country’s automotive industry announced that EV sales for the year had ballooned by 158 percent compared with 2020, as more than 3.5 million vehicles took to the roads.
These sales figures were not a blip. In Europe, EVs made up an estimated 14 percent of all new vehicles sold in 2021, according to the banking and financial services company ING. In China, it was 9 percent.