Electric vehicle production is on the rise worldwide. Currently, Elon Musk’s Tesla is at the top of this market. However, other automakers are also on move. Very soon the sales of electric cars is likely to surpass the sales of petrol and diesel cars.
Jaguar plans to sell only electric vehicles from 2025. Volvo says it will sell only electric cars from 2030, while British sports-car maker Lotus says it will do the same from 2028.
General Motors says it will make only electric cars by 2035. Ford says all the cars it sells in Europe will be all-electric by 2030.
As a result, it is understood how much the demand for electric cars will increase in the future. Along with that, the demand for batteries for electric vehicles will also increase.
On Saturday Wan Gang, president of China’s World New Energy Vehicle Congress in Beijing, said the global electric vehicle battery market will exceed $250 billion by 2030. At that time the demand will be 3.5 terawatt hours.