We recently compiled a list of the . In this article, we are going to take a look at where Stellantis N.V.
(NYSE:STLA) stands against the other EV stocks. While there is a lot of skepticism around the EV industry, it has been growing rapidly, especially over the last few years. According to the International Energy Agency (IEA), EV sales reached almost 14 million units in 2023, a 35% increase from the previous year, with the majority of these sales concentrated in China, Europe, and the United States.
The three regions accounted for about 95% of global electric car sales, which shows their dominance in the market. China led the way, with over 8 million new electric car registrations, followed by Europe with nearly 3.2 million, and the United States with 1.
4 million. The IEA’s Global EV Outlook 2024 examined the potential paths to electrifying road transport by 2035. The report presents three scenarios: the Stated Policies Scenario (STEPS), the Announced Pledges Scenario (APS), and the Net Zero Emissions by 2050 Scenario (NZE).
The STEPS considers current policies and market trends, the APS assumes that all government pledges will be fully implemented on time, and the NZE outlines a pathway to achieve net zero CO2 emissions by 2050. The projections show that the global EV fleet could grow significantly by 2035. Under the STEPS, the number of EVs is expected to increase from less than 45 million in 2023 to 525 million by 2035.
In the APS, this number could reach 585 million, .