The International Energy Agency (IEA) predicts that global electric car sales will reach 17 million by the end of 2024, marking a significant surge in demand. According to the IEA’s Global EV Outlook, this growth trend is set to reshape the automotive industry and significantly reduce oil consumption for road transport.
China is leading the electric car revolution, with projections indicating that almost half of all car sales in the country will be electric by 2024, totaling around 10 million units. In the United States and Europe, electric cars are expected to represent approximately one in nine and one in four cars sold, respectively.
This momentum builds on a record-breaking 2023, where global electric car sales soared by 35%. Investment in the electric vehicle supply chain, coupled with policy support and declining EV prices, is driving these transformative changes. The Outlook suggests that by 2035, every other car sold globally could be electric under current policies, rising to two in three if energy and climate pledges are met.
The report emphasizes the importance of ensuring adequate public charging infrastructure to sustain this growth. While the pace of transition to EVs may vary, affordability and charging infrastructure availability will be key factors shaping the future of electric mobility.
