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Fuji Keizai forecast: China to account for 57% of global EV sales by 2035

Japan’s Fuji Keizai Group forecasts that China will account for 57% of the world’s electric vehicle sales by 2035. The market researcher forecasts global EV sales of 11.25 million units in 2035—nearly 15 times the 760,000 sold in 2017. China is expected to account for 6.42 million of that total.

The market researcher predicts Europe will have the second-largest demand, with sales of 2.17 million electric cars (19.3%), followed by North America at 1.36 million (12%) and Japan at 450,000 (4%).

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 expects annual sales of hybrid vehicles to reach 4.2 million vehicles by 2035—double the 2017 level. Japan will lead this market with sales of 1.31 million cars (31.1%, followed by North America at 1.03 million hybrids (24.5%), Europe at 580,000 (13.8%) and China at 510,000 (12%).

Comments

HarveyD

China has already reached 57%+ of all electrified vehicles in the world and could reach 66% by 2030. This will be done with locally mass produced, much lower cost, batteries and EVs of fall sizes and a much higher growth rate than EU and USA.

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