The global electric vehicle (EV) market is powering ahead despite economic headwinds, according to the Global EV Outlook 2025 published by the International Energy Agency on May 14.
Source: CCTV News
The global electric vehicle (EV) market is powering ahead despite economic headwinds, according to the Global EV Outlook 2025 published by the International Energy Agency on May 14. The IEA projects global EV sales will top 20 million units in 2025, making up more than a quarter of all new car sales. In 2024, EV sales reached 17 million—up around 25% year-on-year—and accounted for over 20% of global car sales for the first time. Sales surged again in the first quarter of 2025, rising 35% from a year earlier.
China remains the world’s largest and most dynamic EV market. Over 11 million EVs were sold in China in 2024, representing nearly half of all new car sales. Rapid growth was also seen in emerging markets across Asia and Latin America, where sales jumped by more than 60%.
Looking ahead, the IEA expects EVs to account for over 40% of global new car sales by 2030—provided countries follow through on their current energy and climate commitments.
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