Electromobility is currently the most important approach when it comes to decarbonizing global road traffic. It has been growing steadily in recent years and is advancing worldwide. According to figures from BloombergNEF, 17.2 million electric vehicles (EV) were sold globally in 2024. That equates to 24 percent more than in the previous year, when growth was clearly centered in China. African countries are switching over from internal combustion engines to electric motors, and appear to be skipping over the internal combustion engine era altogether.
A total of 17.2 million electric vehicles, including both pure battery electric vehicles (BEV) and plug-in hybrid vehicles (PHEV), were sold worldwide in 2024. Mild hybrids, in which the battery is charged exclusively by the internal combustion engine, are expressly not included in this figure. Most forecasts predict a comparable or slightly higher growth for EVs in 2025. BloombergNEF anticipates a sales volume of 22.3 million electric cars, representing growth of 30 percent. On a global level, PHEV sales are growing more rapidly than those of BEVs, to the point where they could reach 39 percent of EVs – or 8.7 million vehicles – this year. But, for now, pure battery vehicles account for the vast majority of sales.
This worldwide growth is increasingly concentrated in China, where 65 percent of electric cars were sold in 2024. In the rest of the world, sales grew by just under 5 percent. In the EU, sales fell from almost 2.4 million down to 2.2 million vehicles in 2024, which is primarily due to the slump in Germany in an otherwise strong market. In the USA, on the other hand, sales have increased more than expected from 1.5 to 1.6 million vehicles.
The e-mobility industry’s economic success is currently due to stricter EU regulations for vehicle fleets that came into force at the start of 2025. This provides planning certainty. However, the situation in the USA is unclear. The new administration’s first presidential decrees are clearly aimed at putting the brakes on growth in the electromobility sector. In key markets like Japan, India and Brazil, electric cars are still considered a marginal issue. Their growth rates are high, but the starting point remains low.
Africa is the continent that holds the key to future growth, and road traffic is no exception. Forecasts suggest that the current low rates of vehicle ownership (42 passenger cars per 1,000 inhabitants, compared to Europe where the figure is 570) are set to increase tenfold over the next 20 years. Up until now, the continent’s passenger car market has been dominated by imported second-hand vehicles from other parts of the world. But the global electromobility boom offers African states the opportunity to use their own resources, set up an automotive industry and drive transformative economic growth in future. Backed by the appropriate investment, the number of electric vehicles could surpass the number of internal combustion engines in record time, triggering a similar domino effect as already seen in the mobile communications sector there.
For an automobile manufacturing hub such as Germany, Africa’s up-and-coming market offers a wealth of opportunity. But the chance to support this highly promising market with the on-site production of electric vehicles will not be available to Germany for much longer. Seizing the moment is what matters now.
