Global EV Outlook 2023

Global EV Outlook 2023: Catching Up with Climate Ambitions

Overview

The Global EV Outlook 2023 is an annual publication by the International Energy Agency (IEA) that highlights recent developments in electric vehicle (EV) mobility globally. The report, supported by the members of the Electric Vehicles Initiative (EVI), combines historical data with projections to 2030, focusing on key areas such as EV and charging infrastructure deployment, battery demand, electricity consumption, oil displacement, greenhouse gas emissions, and policy developments.

Key Areas of Focus

1. Electric Vehicle and Charging Infrastructure Deployment: The report details the growth and expansion of EVs and charging infrastructure.
2. Battery Demand: It analyzes the increasing demand for batteries due to the rapid adoption of EVs.
3. Electricity Consumption: The report examines how EVs are changing electricity consumption patterns.
4. Oil Displacement: It explores the reduction in oil usage as a result of EV adoption.
5. Greenhouse Gas Emissions: The impact of EVs on reducing carbon emissions is assessed.
6. Policy Developments: The report reviews the policy frameworks and market systems supporting EV adoption.

Financial Performance and Investments

• Financial Performance of EV-Related Companies: The report includes an analysis of the financial performance of companies involved in the EV sector.
• Venture Capital Investments: It highlights significant venture capital investments in EV-related technologies.
• Trade of Electric Vehicles: The report covers the international trade of electric vehicles.

Tools for Exploration

The report provides two interactive tools:

• Global EV Data Explorer: Allows users to explore EV statistics and projections worldwide.
• Global EV Policy Explorer: Provides information on various policy measures related to EV adoption.

Acknowledgements

The preparation of the report was led by the Energy Technology Policy (ETP) Division of the Directorate of Sustainability, Technology, and Outlooks at the IEA. Key contributors include:

• Project Design and Direction: Timur Gül, Head of the Energy Technology Policy Division.
• Strategic Guidance: Araceli Fernández Pales, Head of the Technology Innovation Unit.
• Analysis and Production Coordination: Elizabeth Connelly.
• Principal Authors: Oskaras Alsauskas, Elizabeth Connelly, Andrew Daou, Alexandre Gouy, Mathilde Huismans, Hyeji Kim, Jean-Baptiste Le Marois, Shane McDonagh, Apostolos Petropoulos, and Jacob Teter.
• Contributors: Takashi Nomura, Aditya Ramji, and Biqing Yang.

The report also acknowledges the support of various government bodies and organizations from around the world, including Canada, China, Finland, Germany, India, Japan, the Netherlands, New Zealand, Norway, Poland, Sweden, the United Kingdom, and the United States.

Conclusion

The Global EV Outlook 2023 provides a comprehensive overview of the current state and future prospects of electric vehicle adoption, emphasizing the importance of aligning with climate ambitions. The report offers valuable insights into the financial performance, policy frameworks, and market systems driving the transition to electric mobility.