china is the largest single market for evs and its also becoming a significant exporter of them additional ev adoption will mean much more extraction and processing of key materials like lithiumtoday bloombergnef released its seventh annual electric vehicle outlook the report offers reams of new data and projections around whats become a familiar story ev sales are growing at double digits each year and are now the only growth area in the global passenger vehicle market china is the largest single market for evs and its also becoming a significant exporter of them additional ev adoption will mean much more extraction and processing of key materials like lithium advt bloomberg news and hyperdrive have covered the reports key findings here are four additional takeaways1 ev sales are up everywheresales of passenger electric vehicles increased globally by more than 60 in 2022 they also increased in every major market in india and southeast asia traditionally small markets for evs sales were up more than 200 they rose by 100 in japan close to 100 in china 90 in australia 50 in the us and 17 in europewhats more electric car sales rose against the backdrop of an essentially flat global auto market sales of new cars across all powertrains rose only 2 yearonyear and a declining market for new cars with internal combustion engines among the wealthy auto markets only australia saw increasing sales of ice cars last year and even then they rose only 1southeast asia and india are the only two markets where both ice and ev sales increased year over year its worth watching to see how long it takes for their tripledigit ev growth rates to reverse sales trends for ice cars2 evs as a share of autos lag solar wind hydro and nuclear in the power sector but they will catch upthanks to decades of deployment of hydropower nuclear power and renewables like wind and solar a significant share of global power generation is now zeroemissions last year more than 40 of global electricity was zerocarbon passenger vehicles not so much last year evs made up only 17 of passenger vehicle kilometers driven advt thats a sign that evs have a lot of catching up to do but evs can catch up with a following wind so to speak the power sector is continuing to decarbonize and by 2050 it will be more than 80 zerocarbon evs will account for an increasing percentage of global driving while their energy input becomes cleaner every yearby midcentury these two trend lines will have nearly converged more than threequarters of all driving in 2050 will be in evs and the power that tops them up will be more than fourfifths zeroemission3 long range is not where you might expect ita halfdecade ago there were only nine electric vehicle options available globally with at least 400 kilometers 249 miles of range last year there were more than 200 the number of longrange ev trims prepackaged sets of