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Global EV sales soared by 40% in 2020
May 11, 2021

Global sales of electric vehicles (EVs) have survived the shock that the car industry faced during the Covid-19 pandemic, recording a 40% increase last year compared to 2019.

EV sales continue to soar 

A new report published by the International Energy Agency (IEA) estimates a record three million new EVs were registered in 2020. The data suggests the electric segment of the automotive industry continued its strong momentum this year, with sales in the first quarter reaching nearly two and half times the level they had during the same period last year.


Fatih Birol, Executive Director of the IEA, said: “While they can’t do the job alone, electric vehicles have an indispensable role to play in reaching net zero emissions worldwide.”

Europe the leader of global EV market

The growth helped the number of EVs on the streets increase globally to more than ten million with an another estimated one million electric vans, heavy trucks and buses. In terms of the geographic expansion of the EV population, IEA highlights that Europe overtook China for the first-time last year as the leader of the global electric car market. The analysis estimates electric car registrations in Europe more than doubled to 1.4 million, while in China they increased 9% to 1.2 million.


Fatih Birol, Executive Director of the IEA, said: “Current sales trends are very encouraging, but our shared climate and energy goals call for even faster market uptake.”

Expected expansion of EV market

The body also predicts global electric car sales are on track for a decade of further strong growth as the number of electric cars, vans, heavy trucks and buses on the roads worldwide is projected to reach 145 million by 2030. However, IEA stresses the need for governments to accelerate their efforts in building the required infrastructure while maintaining their climate targets.


Fatih Birol, Executive Director of the IEA, said: “Governments should now be doing the essential groundwork to accelerate the adoption of EVs by using economic recovery packages to invest in battery manufacturing and the development of widespread and reliable charging infrastructure.”

British Gas Business 

The demand for EV charging is rapidly increasing, so what is your business doing in response? At British Gas Business we’re proud to offer workplace EV charging points, with end to end project management – from assessing site supply to final installation. Learn about our workplace charging points and the steps to becoming EV ready below.

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Balancing planet and profit during unprecedented market volatility

06 Jul, 2022
Balancing planet and profit during unprecedented market volatility

Why are energy prices high compared to a year ago?

By Vander Caceres • 14 Jun, 2022
Wholesale energy prices have experienced unprecedented levels of volatility since the end of summer 2021, with both day ahead/spot and future contracts surging to all-time highs. In the last couple of months, prices have decreased but still remain high compared to a year ago. This period of high energy prices is expected to continue for the foreseeable future (see next section). Energy prices have surged for a number of reasons: A global increase in gas demand following the ease or end of Covid-related restrictions throughout 2021. After the pandemic, economies across the world started to recover. Asian countries like China saw their imports of Liquified Natural Gas (LNG) increase. This resulted in lower LNG shipments to the UK and Europe. On the supply side, the Covid-19 lockdowns pushed some maintenance work from 2020 into 2021 at a time when demand was recovering. In 2021, gas production hit a record low of 363TWh, 47TWh below the previous record low in 2013. Low production was the result of an extensive summer maintenance schedule which saw shutdowns at several major terminals, as well as the Forties Pipeline System which serves a significant proportion of UK gas and oil production. A lack of wind in the summer resulted in higher demand for conventional power. European gas storage in 2021 and Q1’22 remained far below previous years and it’s unclear how these are going to be replenished in the summer given the concerns around supply including the potential suspension of Russian gas flows due to sanctions. The 1,234km offshore Nord Stream 2 gas pipeline, which was designed to double the flow of gas between Russia and Germany (and by extension the rest of Europe) has been abandoned following the invasion of Ukraine. Gas storage in the UK is extremely minimal with capacity at less than 2% of the UK’s annual demand, compared with 22% for other European countries. Whilst the UK is not heavily reliant on gas coming from Russia, it sources almost half it’s gas supply from Europe. Hence, wholesale gas and power prices in the UK are now subject to knock-on-effects from the conflict in Ukraine.

What does volatility mean for your journey to net zero?

20 May, 2022
Amidst rising energy costs, digitalisation, growing pressure from stakeholders and increasing regulation, organisations may struggle to define their pathway to a low-carbon future. What can you do to protect your business’ net zero plans from the challenges of volatility? Disruption and volatility are putting organisations under pressure. Digitalisation and new technology developments continue to challenge existing business models. Its increasing dependence on energy and encouraging businesses to drive change to secure competitive advantage. And as customers, employees and shareholders look to engage with companies who understand the importance of decarbonisation, pressure is mounting to prioritise sustainability.
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