Electric Vehicles are Booming in 2021 (.PDF Download)

June 25, 2021
After shaking off the negative impacts of early 2020, electric vehicle makers and their suppliers are having a banner year so far in 2021.

The COVID-19 pandemic may have driven sluggish vehicle sales in early 2020, but electric vehicles (EVs) emerged as a bright spot during that period of uncertainty. This year, EVs continue to gain in popularity as more consumers gravitate toward them and more automakers innovate in this area.

According to Lux Research’s Automotive Battery Tracker report, combined battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) sales increased 37% in 2020 compared to 2019, led by 140% growth in Europe as the BEV market took off in several countries. Tesla remains the most popular BEV maker, Lux Research notes in a press release, “but its choice of cells from LG Energy Solution in China means Panasonic lost the market share crown it had held since 2013.”

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