Global EV Outlook 2025 (IEA)

Summary

• Electric car sales exceeded 17 million globally in 2024, reaching a sales share of more than 20%.p.10
• China sold over 11 million electric cars in 2024, with electric cars accounting for almost half of all car sales in the country.p.10
• Electric car sales in emerging markets in Asia and Latin America jumped by over 60% in 2024 to almost 600 000, and in Brazil they more than doubled to 125 000.p.10
• The share of electric cars in overall car sales is set to exceed 40% in 2030, with China at around 80%, Europe close to 60% and the United States around 20%.p.11
• Electric car sales are expected to exceed 20 million in 2025, representing one-quarter of total car sales.p.26
• China is responsible for more than 70% of global EV production and accounted for 40% of global electric car exports in 2024.p.12
• Battery pack prices fell by about 30% in China in 2024, compared with 10-15% in Europe and the United States.p.13

Key insights

1. The global electric car fleet reached almost 58 million at the end of 2024, about 4% of the total passenger car fleet.p.16
2. The electric car stock displaced over 1 million barrels per day of oil consumption in 2024.p.16
3. Tesla's market share in the United States fell from 60% in 2020 to 38% in 2024.p.18
4. Two-thirds of all electric cars sold in China in 2024 were priced lower than their conventional equivalents.p.13
5. In Brazil, the price gap between battery electric and conventional cars shrank to 25% in 2024 from over 100% in 2023.p.13
6. Electric truck sales grew by nearly 80% globally in 2024 to reach close to 2% of total truck sales.p.14
7. The electric sales share increased in 2024 in 14 out of 27 EU member states, while it stalled or decreased in the rest.p.17
8. EU production of electric cars stalled at 2.4 million in 2024, while Mexico's output doubled.p.12
9. Brazil's import duties of 35% on electric cars are set to be fully removed by the middle of 2026.p.23
10. The UK Vehicle Emissions Trading Scheme sets the target of 28% battery electric car sales in 2025.p.27