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Published 1 month ago

Electric car sales to rise but affordability in focus, IEA says

  • The International Energy Agency predicts that one in five cars sold this year could be electric, with global electric vehicle sales projected to reach 17 million in 2024.
  • Surging demand for EVs is expected to reshape the global auto industry and reduce oil consumption for road transport, with half of all cars sold globally projected to be electric by 2035.
  • Sales of electric and plug-in hybrids in the first quarter of 2024 surpassed the total for 2020, indicating a rising trend in the market.
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