Overview
- July registration data across several markets show record or near‑record EV shares, with Australia reporting about 21.7% battery‑electric vehicle (BEV) share, the UK recording a 44.5% jump in EV registrations to 14.9% market share, Ireland posting its highest monthly EV tally of 9,682, and New Zealand reporting BEV plus PHEV at 29.8% of new sales.
- The International Energy Agency now projects electric vehicles could approach one‑third of global new‑car sales in 2026, a shift that multiple sources link to higher fuel prices and tanker disruptions after late‑February conflict around the Strait of Hormuz.
- China’s domestic EV sales have cooled, falling about 14% year‑on‑year after Beijing cut purchase subsidies, and Chinese automakers including BYD and Geely are compensating by sharply increasing exports to overseas markets.
- Industry leaders warn that public charging infrastructure is not expanding fast enough to match the surge in EV uptake, and automakers face pressure on margins from heavy discounting, rapid model launches and the need to reconfigure production for export demand.
- Policymakers are adjusting tools to manage the shift, with measures such as the UK ZEV mandate and Ireland’s scrappage pilot credited with boosting uptake, while analysts say the near‑term risks are operational — chargers, grid upgrades and dealer supply — and the medium‑term effects include trade shifts and industrial policy responses.