1 in 4 new cars sold in 2025 will be electric, new report says, and China is the undisputed EV leader [Video]

More than one in four cars sold worldwide in 2025 will be electric, according to the latest projections from the International Energy Agency, and will reach 40 per cent of all new cars by 2030.

Among major markets, the undisputed leader is China, whose new EV sales increased 40 per cent year over year in 2024. About half of all new cars sold in the country last year were electric, accounting for 11 million out of the 17 million new EVs sold worldwide. Meanwhile, sales growth was flat in Europe and just 10 per cent in the U.S.

Behind the numbers, the IEA’s annual Global EV Outlook shows how China’s decades of investment have paid off, while also making electric cars more affordable for buyers in developing countries around the world. In Europe and the U.S., EV sales faced challenges because of significantly more expensive cars and scaled-back EV rebates, but remain on a long-term upward trajectory.

“We’re not …