EV share worldwide projected to hit 30% in 2026
Global sales of electric vehicles will grow again in 2026, reaching 23 million units and accounting for approximately 30% of all vehicles sold across the world, according to a new report from the International Energy Agency (IEA), Qazinform News Agency reports.
The report notes stable growth in EV sales in 2025, with record figures in nearly 100 countries, as well as potential for further growth in key markets amid the current energy crisis caused by the Middle East conflict.
In 2025, global EV sales surged by 20% to exceed 20 million units, meaning that one-quarter of all new cars sold globally were electric. Chinese automakers accounted for 60% of global EV sales, while European and North American manufacturers accounted for approximately 15% of global sales.
"Electric car sales set new records in close to 100 countries last year. The growing popularity of EVs has marked a major shift for car markets and the energy system as a whole – and it is providing some relief now amid the largest oil supply shock in history,” said IEA Executive Director Fatih Birol.
Global EV Outlook 2026 is out 📢
— International Energy Agency (@IEA) May 20, 2026
It shows global electric car sales are on track to rise to 23 million in 2026, after hitting record heights in nearly 100 countries last year.
This means that close to 30% of cars sold this year are set to be electric ⬇️ https://t.co/Zr1hdeqgCe
The report highlights Southeast Asia as a region where the momentum behind electric vehicles is particularly strong. Annual EV sales in the region more than doubled last year, giving them a market share of around 20%. According to the latest forecasts, this share could grow to 60% by 2035, given favorable pricing dynamics and policies. Several Southeast Asian countries, including Vietnam, the region's largest EV market, have already announced plans to expand or extend tax incentives as part of their response to the current energy crisis.
More than half of the world's imported electric vehicles come from China.
China remains the world's largest hub for electric vehicle production, accounting for nearly three-quarters of the 22 million electric vehicles produced worldwide in 2025. As production outpaced domestic demand, Chinese EV exports doubled, reaching a record high of over 2.5 million units. Outside the three major EV markets - China, Europe, and the United States - 55% of EVs sold in the rest of the world are imported from China.
The report notes that EVs are becoming increasingly price-competitive in key markets, which could boost demand, including from consumers concerned about volatile fuel prices. By 2035, the global electric vehicle fleet (except for two- and three-wheelers) is projected to increase to 510 million, up from nearly 80 million today.
Earlier, it was reported that Egypt moves to introduce electric vehicles in government transport.
