International consulting firm Gartner predicts that by 2025, the global stock of electric vehicles will increase by 33% year-on-year to 85 million. China is expected to account for 58% of the global total.

The latest industry report released by Gartner shows that including cars, buses, trucks and heavy-duty trucks, the global stock of electric vehicles will reach 64 million in 2024 and is expected to increase by 33% in 2025 to 85 million.

Jonathan Davenport, senior research director at Gartner, analyzed on the 12th that the growth in sales of electric vehicles in China and Europe will be the main reason for the increase in the global stock of electric vehicles in 2025. It is expected that the stock of electric vehicles in these two markets will account for 82% of the global total, with China accounting for 58% and Europe 24%.

Gartner predicts that in terms of types of electric vehicles, pure electric vehicles will account for 73% of the total number of electric vehicles in 2025. Regionally, China's stock of electric vehicles is expected to be higher than the total stock of the rest of the world in 2025 and the next decade. The demand for electric vehicles in Europe and North America is expected to grow steadily.

As the sales of electric vehicles increase year by year, the problem of raw material shortage will become prominent. According to Gartner's prediction, by 2030, car manufacturers will be able to recycle 95% of electric vehicle batteries, thereby reducing this risk. Davenport's analysis points out that since the concentration of rare metals in batteries is higher than that in natural ores, used batteries can be regarded as highly enriched ores. If the recycling of used batteries can be vigorously carried out and the materials in used batteries and the waste generated during the manufacturing process can be fully utilized, the demand for mineral extraction can be reduced. At the same time, it can improve the overall commercial feasibility of electric vehicles by lowering battery prices. It can also prevent used batteries from being improperly disposed of or landfilled.