BYD electric cars and other car brands for export are stacked at the Taicang port in Suzhou, in eastern China’s Jiangsu Province, on April 7, 2025. AFP/Getty Images
Electric vehicles are expected to account for nearly one-third of all new vehicles sold worldwide this year, as rising fuel prices make them more attractive to buyers.
The projection follows another year of strong growth for the EV market. Global EV sales topped 20 million in 2025, up 20 percent from the previous year, according to the International Energy Agency’s (IEA) latest report released on May 20. The intergovernmental organization expects roughly 23 million EVs to be sold in 2026, a further 15 percent increase.
