Globally, there are approximately 1.2 to 1.3 billion cars on the road, which includes about 60 million electric vehicles.
Tesla is clearly the pioneer in the design, manufacturing, and sale of electric vehicles.
Tesla sold its first EV, the Roadster, in 2008. In the early days, the cost to purchase an EV was prohibitive for the general public.
However, with improvements in technology, lower-priced models have been introduced and the barrier to entry is considerably lower
Tesla leads all others, selling slightly over 936,000 units in 2021. This gave the company a market share of nearly 14%.
Several governments have offered incentives for buyers of EVs. These incentives included, among others, tax credits and lower interest rates on EV loans.