Electric cars, global production to increase by 58% by 2031

Long-term projections in the latest Electric Vehicle Sales Review by Strategy& (PwC) confirm a radical transformation of the automotive industry. Between 2026 and 2031, global production of electrified vehicles (cars and light commercial vehicles) is set to grow by 58%, with peaks of +74% for Bevs, consolidating the transition from combustion engines to new electric architectures. The key points of the production report include global volumes: the boost will not only affect private cars, but will see a decisive acceleration in the light commercial vehicle sector, which is crucial for 'green' urban logistics. This will lead to industrial reconversion; the 58% growth reflects massive investments in production capacity, with a particular focus on vertical integration of the value chain (batteries and software). According to the report, the efficiency of new batteries and the reduction of production costs will be the key factors in achieving price parity with internal combustion vehicles, further accelerating the transition. While sales figures for the first quarter of 2026 may show fluctuations due to changes in government subsidies, the trajectory of industrial production indicated by PwC leaves no doubt: the global manufacturing system has now passed the point of no return towards electrification.

Despite political fluctuations, the industry's centre of gravity remains China, which will produce 55% of the world's electrics and 72% of its rechargeables, thanks to an integrated supply chain and unbeatable economies of scale. Europe, however, is not standing idly by: its production share will rise from 17% to 22% by 2031. The first quarter of 2026 was historic for the Old Continent, with Bev sales up 36% and a boom in plug-in hybrids (+42%), which saw the UK overtake Germany as the leading market. Against this backdrop, thermal engines collapsed to 29% market share (they were at 93% in 2019). The key points of the trend see the redemption of Southern Europe with Italia (+66%) and Spain (+42%) accelerating, doubling their Bev shares compared to three years ago. While France and Germany are driving volumes, thanks to the reintroduction of state bonuses, the US market is stalling. The Trump administration's policies have slowed the transition, relegating North America to just 6% of global Bev production.