Electric vehicles are on track to capture nearly one-fifth of the global market this year, according to a new report detailing the “explosive growth” of plug-in cars.
Electric vehicles are on track to capture nearly one-fifth of the global market this year, according to a new report detailing the “explosive growth” of plug-in cars.
Global sales of electric vehicles hit 10 million in 2022 and are set to reach 14 million this year, according to a report from the International Energy Agency. EVs, which had just 14 percent of the global market in 2022, will likely account for 18 percent of the market in 2023.
IEA analysts have consistently revised their projections for future sales upward. While last year, the IEA projected that EVs would account for 21 percent of global sales in 2030, it now projects EVs will reach 35 percent of sales by that year. New standards and incentives in the EU, U.S., and China are set to boost EV purchasing, with electric cars accounting for 60 percent of sales across these three markets in 2030, the report estimates.
Read more at Yale Environment 360
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