Electric vehicle (EV) sales are on track to continue their upward trajectory this year, despite geopolitical uncertainties and the imposition of fresh tariffs by the United States, the International Energy Agency (IEA) revealed in its latest annual report.
According to the agency, electric cars are expected to make up one in every four vehicles sold globally by the end of 2025, a reflection of shifting consumer preferences and the growing appeal of lower long-term operating costs. The IEA highlighted that affordability and advancements in EV technology are accelerating global adoption rates.
Fatih Birol, Director-General of the IEA, noted that electric vehicles are firmly positioned on a global growth path. He forecasted that by 2030, over 40 per cent of global car sales will be electric, signalling a significant transformation in the automotive landscape.
The surge in demand is already evident. In 2024 alone, global EV sales—including plug-in hybrid models—reached over 17 million units, representing an increase of more than 3.5 million from the previous year. The first quarter of 2025 saw sales jump by 35 per cent year-on-year, with full-year figures expected to surpass 20 million units.
