Over the last few decades use of electric vehicles is continuously growing, reaching global stock of more than 26 million electric vehicles in 2022. Main reasons for such development are different supporting policies and measures for green mobility provided by governments. The core objective of this paper is to investigate economic, environmental and social concerns related to the increasing use of electric vehicles. Of special interest are the future cost developments of batteries as well as the development of carbon intensity of electricity mix used in electric vehicles. Moreover, the availability of raw materials, as well as environmental and social impact of their mining will be discussed. Economic impact of e-mobility is investigated considering total cost of ownership. Environmental analysis is based on the life-cycle assessment. Moreover, comprehensive discussion on energy and material consumption for car production in relation to environmental impacts is provided. Assessment of the social impacts is focusing on the health issues, mining of raw materials, water use and land degradation. Currently, electric vehicles are mostly used in courtiers with the high GDP per capita. Although, electric vehicles can eliminate tailpipe emissions, they can also create some new environmental and social challenges. Environmental benefits of electric vehicles are very dependent on electricity generation mix which is used in vehicles, and this mix is differ from country to country. Electric vehicles in combination with electricity from renewable energy sources can significantly reduce emissions from the transport sector on well-to-wheel basis. However, there is still huge uncertainty about negative environmental impact of raw material mining as well as regarding the environmental impact of battery recycling. Although, the performance of electric vehicles is rapidly improving, electric vehicles are still less convenient for use in comparison to conventional cars. Especially, charging time and infrastructure should be improved, as well as the balance between car price and driving range. In the future, electric vehicles could play a significant role only if the proper mix of different supporting policy measures is implemented, as well as if battery performances are improved and costs reduced. Intensified work is needed on new policies which should ensure sustainability in the whole electromobility supply chain. To ensure sustainable development of the transport sector it is important to implement avoid-shift-improve strategy in combination with green mobility.