Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

IEA Global EV Outlook 2025: EV Sales Soar Past 17 Million, Set to Surpass 20 Million in 2025

The International Energy Agency (IEA) released its Global EV Outlook 2025 on May 14, highlighting strong momentum in electric vehicle (EV) adoption. Electric car sales topped 17 million globally in 2024, capturing over 20% of total car sales. This figure is expected to surpass 20 million in 2025, accounting for over 25% of all cars sold. Under current policies, EVs are projected to represent more than 40% of global car sales by 2030.

China maintains its dominance as the global EV manufacturing hub, producing over 70% of EVs worldwide. A key driver of affordability has been falling battery pack prices, spurred by low critical mineral costs and rising competition among battery makers. Public EV charging infrastructure has also rapidly expanded, with the number of public chargers doubling over the past two years.

Electric truck adoption is gaining traction, with global sales rising nearly 80% in 2024—reaching around 2% of total truck sales. In China, battery electric heavy-duty trucks have already achieved lower total cost of ownership compared to diesel alternatives in select cases. The report also explores EV affordability, trade flows, and policy developments shaping the sector’s outlook through 2030.

The findings underscore a pivotal shift in the automotive sector, with cleaner technologies becoming increasingly viable both economically and infrastructurally.