In May 2019, the cumulative global sales of electric vehicles will exceed 5 million units

According to a new report released by BloombergNEF, cumulative global sales of electric vehicles will reach 4 million this
week.
However, if you add in the sales of e-buses, the 4 million milestone was already broken
in early July.

In May 2019, the cumulative global sales of electric vehicles will exceed 5 million units

BloombergNEF analysts provided hypotheses for this achievement, calculating that while it took more than 60 months to reach the first 1 million electric car sales, it took only six months to achieve 4 million
.
Given this growth trend, analysts expect cumulative global EV sales to reach 5 million by
May 2019.

Not only has the speed of electric vehicles being introduced changed, but so has the global distribution
.
For the first million sales reached in the fourth quarter of 2015, North America was the most important contributor with 39%, followed by Europe with 33% and China with only 15%.

However, since 2011, China now accounts for 37% of global passenger electric vehicle sales and about 99%
of electric buses.
The trend is likely to continue, with analysts expecting 42 percent of the next fifth 1 million units sold to be in China, while Europe is expected to account for around 26 percent and North America for 25 percent
.

Recently, it was reported that 1 million electric vehicles have been put on the road
in Europe.
By May 2019, analysts expect that number to increase to 1.
3 million.

Similarly, China's recently introduced quota for new energy vehicles will take effect in 2019, helping to further accelerate sales
.

Electric vehicle battery second life use case

Soaring EV sales figures have recently sparked growing interest in secondary EV battery use cases
.
According to an independent report published by IDTechEx, batteries are the most expensive component
in electric vehicles.

By the end of its life, the battery still retains 70-80% of its initial capacity, and many use cases arise from this, mainly in fixed storage applications
.
The 2.
8 MWh storage system, recently installed at the Johan Cruijff ArenA in Amsterdam, is an example
.
The system combines a power conversion unit supplied by Eaton, an American power management company, with batteries equivalent to 148 new Nissan and second-generation Nissan
LEAFs.

While the first electric vehicles are now just reaching the end of their life, analysts say there will be about 3 million battery packs available for second use by 2029, representing 108 GWh of usable storage capacity
.

In October last year, BloombergNEF said in a separate report that the global energy storage market will reach 305 GWh
by 2030.
As a result, secondary EV batteries may account for one-third
of the storage unit.

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