The International Energy Agency reported in a recent publication that global electric vehicle (EV) sales reached 17.3 million units in 2024, marking an increase of nearly 25% compared to 2023. This surge is largely attributed to a rise in production in China, which accounted for 12.4 million electric vehicles.
China remains the dominant market for electric vehicles, representing nearly half of global EV sales last year. In contrast, sales in the United States rose by 10% year-over-year, while sales in Europe remained stable amid a rollback in supportive policies.
In the first quarter of this year alone, over 4 million electric vehicles were sold, reflecting a growth rate of 35% compared to the same period in 2024.
The agency's report projected that global electric vehicle sales are expected to surpass 20 million units in 2025, accounting for more than a quarter of total global vehicle sales, with EVs anticipated to hold over 40% of the market share by 2030.
Fatih Birol, Executive Director of the agency, stated in the report: “Our data shows that despite significant uncertainties, electric vehicles remain on a strong global growth trajectory, with sales continuing to hit record highs and major implications for the global automotive industry
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