Overview
- On May 20 the International Energy Agency forecast roughly 23 million electric car sales in 2026, equal to nearly 30% of new-car sales worldwide.
- The IEA also reported global EV sales fell about 8% in the first quarter of 2026, a decline it attributes to policy rollbacks in China and the United States.
- Fuel-price shocks from the Iran conflict have pushed consumers toward EVs and driven strong regional gains, with Europe up about 30% year‑on‑year and Asia Pacific (excluding China) and Latin America rising roughly 80% and 75% respectively.
- China remains the dominant producer, accounting for roughly three-quarters of 2025 vehicle output and more than 80% of global battery cell production while Chinese EV exports have surged into other markets.
- Falling battery costs, a growing used‑EV market and rising petrol bills could push the global EV fleet from about 80 million today to as many as 510 million by 2035, but gaps in charging, dealer acceptance of imports and future policy moves will shape how fast and where adoption sticks.