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EV Sales Reach 'Inflection Point’ With Fast Growth in China and Europe

Consumer demand in both regions is now driving sales, not just public policy, BNEF says.

An employee checks a Volkswagen ID.5 eSUV at a factory in Zwickau, Germany.
An employee checks a Volkswagen ID.5 eSUV at a factory in Zwickau, Germany.Photographer: Krisztian Bocsi/Bloomberg
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Automakers and analysts often wonder when U.S. electric car sales might one day take off after years of slow growth. But in China and Europe, that moment may already have come.

Both EV markets appear to have hit their inflection points in the last two years, the head of electrified transport for BloombergNEF said Monday at the research firm’s annual San Francisco summit. In both, electric cars accounted for about 4% of new vehicle sales at the end of 2019, according to the presentation by Aleksandra O’Donovan. Last year, their proportion of all new car sales hit 15% in China and 20% in Europe.