- EVs on track to surpass 20 million units sold in 2025, representing over 25% of global car sales.
- China dominates global EV production and demand, accounting for nearly half of 2024’s EV sales and exporting 1.25 million units.
- Affordability and operational savings driving adoption, with EVs cheaper to operate than gas vehicles even at low oil prices.
Electric vehicles are on a fast track to capturing more than 40% of the global car market by 2030, according to the International Energy Agency’s (IEA) latest Global EV Outlook.
