Electric Cars in Georgia: Market Trends

Electric vehicles are gaining an increasingly important place in Georgia’s automotive market, reflecting efforts to modernize the transportation system and improve the country’s environmental conditions. From January to August 2024, electric vehicle imports in Georgia increased by 126.5%, representing significant growth compared to the same period in the previous year. During this time, 2,770 electric vehicles valued at $51.967 million were imported into the country, compared to 1,223 units worth $34.442 million during the same period in 2023. These figures indicate a growing interest among Georgian consumers in environmentally friendly transportation options.

According to data from January to August 2024, the majority of electric vehicles in Georgia were purchased from the United States, with 1,429 units imported at a value of $23.683 million. The second-largest supplier was China, which provided 568 electric vehicles worth $14.614 million, followed by Japan, with 558 units valued at $3.737 million. Other notable suppliers include Germany (92 units, $5.621 million) and the United Arab Emirates (32 units, $843,900).

The United States continues to hold the leading position in import volume, which may be attributed to the well-developed electric vehicle market in the country and the wide range of price options that make various models accessible. China also plays a significant role as the world’s largest electric vehicle producer, offering both high-end and budget-friendly models. The presence of Japan and Germany in the rankings suggests that Georgian consumers are interested in high-quality and innovative technologies.

Another noteworthy aspect of Georgia’s electric vehicle market is re-export. In 2024, 314 electric vehicles valued at $8.250 million were re-exported from Georgia, compared to 207 units worth $7.624 million during the same period last year. These figures show that Georgia has been able to not only import electric vehicles and enrich the local market but also re-export them to neighboring countries, creating additional revenue for the country.

The re-exports primarily went to Kyrgyzstan (83 units), Ukraine (76 units), and Armenia (58 units). The growing demand for electric vehicles in these countries highlights the increasing interest in environmentally friendly transportation options in the region, with Georgia playing a key role as a transit country in this process.

The global market is witnessing a growing interest in electric vehicles, driven largely by environmental policies, technological advancements, and rising traditional fuel prices. Internationally, electric vehicle sales are growing rapidly, especially in China, where 6.8 million units were sold in 2024, accounting for nearly half of global sales. The United States and Europe are also actively expanding their electric vehicle markets, contributing to the use of green energy and efforts to combat climate change.

The European market is particularly active, with Norway leading in electric vehicle adoption—more than 80% of new cars sold in 2024 were electric or hybrid. The country strongly supports environmentally friendly transportation, including subsidies, tax reductions, and infrastructure development. China, as the largest producer and consumer of electric vehicles, plays a major role in the global market, offering a range of vehicles from luxury to budget models, appealing to diverse customers.

The 126.5% growth in electric vehicle imports in Georgia reflects the growing interest among the population in environmentally friendly and modern transportation options. The United States, China, and Japan remain the main suppliers, thanks to their wide selection, variety of prices, and high-quality models. This growth may also be linked to state incentives for electric vehicle imports and environmental protection policies.

In the future, it is expected that electric vehicle imports will continue to rise as public awareness of environmental sustainability and reduced fuel costs grows. Georgia is also likely to increase its role in re-exporting electric vehicles to neighboring countries, especially if demand for electric transport continues to rise in the region.

Global trends indicate a promising future for electric vehicles. In this regard, Georgia has the potential to play an important role both in developing its domestic market and in strengthening its position as a transit and re-export hub. To achieve this, it will be necessary to improve infrastructure, increase the number of charging stations, and implement additional incentives for consumers, which will encourage wider adoption of electric vehicles and boost demand.