Electric vehicles (EVs) have steadily gained traction in the global automotive market over the past decade. While adoption has progressed more slowly than many early projections predicted, growth is now accelerating. In 2015, just over 1% of all vehicles sold worldwide were electric. By 2024, that figure had risen to approximately 20%, with projections for 2025 approaching 25%.
Global market share is influenced heavily by countries that have aggressively embraced EV technology. Norway leads the world, with nearly 90% of new vehicle sales now electric. Sweden and Denmark have also seen adoption rates approaching 60% in recent years. EVs are clearly not a passing trend. As adoption increases, the technology powering these vehicles has become both big business and increasingly sophisticated.















