Electric car sales reached a record breaking 17 million in 2024 – making up over 20% of total car sales globally, according to International Energy Agency’s Global EV Outlook 2025. China led the way with more than 11 million units sold, which accounts for nearly half of its total car market and pushing one in every ten cars on its roads into the electric category.

Meanwhile, emerging markets in Asia and Latin America saw sharp growth – with Brazil and Southeast Asia recording impressive year-on-year sales increases largely driven by affordable Chinese imports.

…By 2030 EVs could account for over 40% of global car sales with China maintaining its lead and regions like Southeast Asia closing the gap

Looking ahead, electric vehicle (EV) sales are expected to top 20 million in 2025 with China projected to see 60% of its car sales coming from electric models. While Europe and the United States face cost barriers and policy uncertainties, strong regulatory targets and consumer incentives may likely support continued adoption. By 2030 EVs could account for over 40% of global car sales with China maintaining its lead and regions like Southeast Asia closing the gap through a mix of policy support, manufacturing capacity and price competitiveness.