Nation poised to hold more than half of global EV fleet by 2025

International consulting firm Gartner recently forecast that global electric vehicle ownership would rise significantly to hit 85 million by 2025, with China accounting for over half of the global EV fleet.

The growth in 2025 will be driven primarily by higher EV sales in China (58 percent) and Europe (24 percent), which together are projected to represent 82 percent of total EVs in use worldwide, said Jonathan Davenport, senior director analyst at Gartner.

The consultancy said China's EV ownership is anticipated to surpass the combined total of the rest of the world by 2025 and maintain this lead over the next decade. It estimates 49 million EVs will be on the road in China by 2025, compared to 20.6 million EVs in Europe and 10.4 million EVs in North America.