Many countries around the world have committed to banning the sale of petrol and diesel vehicles in the near future. While the transition to electric cars checks the boxes environmentally, is the world realistically ready for that change? What is the current state of the electric vehicle market? The electric car market has been growing exponentially for years, with tech giant Tesla making most of the headlines, and the Nissan Leaf being a staple for a while now. However, other major automakers have now pledged to produce more electric vehicles for a market that will soon be fully electric. General Motors has announced that it will produce 30 new global electric vehicles by 2025, Jaguar has promised that it will only produce electric cars by 2025, and Ford will do the same by 2030. Volvo aims to have half of its cars be battery-powered electric vehicles. And the other half to be hybrid by 2025. It also aims to be completely carbon-neutral by 2040. It is expected that any major manufacturer that has not made similar commitments will do so in the near future so that they are not left behind when making the switch. Where are most electric vehicles located? There are already plenty of electric and hybrid cars available, but in 2019, only 8% of all cars sold worldwide were hybrid or battery-powered, and the same study predicted that number would rise to just 18% by 2030. However, the ICE The vehicle ban applies to new cars only, and the used car market will mostly consist of petrol and diesel cars for a while. China currently has the largest stock of electric vehicles, with Europe ranking second for both electric vehicles and plug-in hybrids. However, Norway leads the market globally in market penetration rate per capita, with an average of one EV per 18.9 people. Second is the United States, with a rate of one EV per 46.8 people. California leads the United States and accounts for about half of all new electric vehicle registrations in the country. Where are the most charging points located? Even with enough electric vehicles available, one of the main factors preventing the world from getting ready for the switch is the lack of charging points. An important concern for drivers is “range anxiety”: the fear that electric vehicles will not carry enough charge to reach their destination, leaving the driver stranded. Only the experience will alleviate this anxiety, but the wide availability of charging points may at least eliminate the fear of getting stranded in the middle of the journey. The Netherlands currently has the highest density of electric vehicle charging stations, and the rest of the world needs to follow this example if they are to support a range of fully electric vehicles, with significant investment in fast charging points. There have also been issues with the reliability of public charging points, which need to be resolved to ensure public trust. What is the cost comparison of EVs and ICEs? How prepared the world is to switch to electric vehicles also depends on the cost. Electric vehicles are expected to be cheaper to produce than their ICE counterparts by 2027, which we hope will lead to similar savings for the customer. However, this only applies to new cars, and in the United States at least, most cars sold are used cars, not new. It is difficult at this time to know the market value of used electric vehicles and when that price will be comparable to the average price paid for a used petrol or diesel car. The good news is that the cost of running an EV is much lower than an ICE, especially the cost of charging versus refueling. The production and availability of electric vehicles appears to be on track to shift, and even the cost of new electric vehicles will soon be an affordable option. However, the focus must now be on electric vehicle infrastructure and investment in fast, reliable and widely available charging points. Written by Jeff Brende is Chief Information Officer at Delta Impact, which provides flexible and proactive supply chain solutions. .