![]() As more vehicles come online each year, achieving huge growth rate increases becomes more difficult. That’s a growth rate of 543%, even though 38,000 EVs is only a drop in the bucket of a larger car market that sells tens of millions of vehicles each year. For example, in 2010, the first year mainstream EVs went on sale, 7,000 were sold. Why would that be?Ī: In early years of the adoption of any disruptive technology, growth rates are likely to be high. ![]() Q: All three of the listed EV growth rate models (IEA, Bloomberg, Goldman Sachs) show sales going up quickly, then decreasing. The rest of the 3 billion vehicles on the road are made up of either EVs or ICE vehicles, whose numbers will fluctuate based on what growth rates you assume! It doesn’t matter where in the stacked graph they are. Even though AFVs are on the top, they only make up a small portion of the nearly 3 billion vehicles that are projected to be on the road in 2050. A: The graph is a stacked area graph where each type of vehicle makes up a portion of the total vehicles on the road.
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