In a recent report by market research firm Rho Motion, global electric vehicle (EV) sales experienced a significant increase of 31% in 2023 despite a slowdown in growth.
What Happened: Sales of fully electric vehicles and plug-in hybrid vehicles (PHEVs) rose by 31% last year, a deviation from the 60% growth recorded in 2022, Reuters reported.
Charles Lester, data manager at Rho Motion, informed that the decelerated pace of growth aligns with the firm’s 30% growth projection for the global EV market.
Rho Motion forecasts a 25% to 30% surge in global EV sales for 2024. The firm also highlighted a record-breaking sale of 1.5 million units for December 2023. Of the 13.6 million EVs sold globally in 2023, 9.5 million were fully electric or battery electric vehicles (BEVs), while PHEVs accounted for the remaining sales.
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