Toronto, Ontario -- One-in-four vehicles sold in 2025 will be electric, a new report has found.
This year, EV sales are projected to exceed 20 million units globally in 2025, accounting for more than 25 percent of all new car sales, according to the International Energy Agency's 2025 global EV outlook report. This marks a significant increase from the 17 million EVs sold in 2024, which represented over 20 percent of new car sales worldwide.
China continues to lead the global EV market, with electric cars expected to comprise around 60 percent of its total car sales in 2025. This growth is driven by ongoing incentives for replacing older vehicles and declining EV prices.
In contrast, the U.S. faces a more uncertain outlook. Policy reversals under the current presidential administration have led the IEA to halve its U.S. EV market share forecast to 20 percent by 2030. Despite this, U.S. EV sales are projected to reach 11 percent of total car sales in 2025, as consumers take advantage of existing tax credits before potential repeals.
Emerging economies are also experiencing significant growth in EV adoption. In 2024, Chinese imports accounted for 85 percent of electric car sales in Brazil and Thailand and 75 percent among all emerging economies.
The global stock of electric cars reached nearly 58 million by the end of 2024, tripling since 2021 and displacing over a million barrels of oil consumption per day.
To support the growing EV fleet, the IEA projects the addition of approximately 150 million charging points globally between 2025 and 2030. Nearly two-thirds of these will be home chargers, while public fast chargers will constitute over half of the installed charging capacity.
