A new report from the IEA displays that EV sales and production are skyrocketing, but the hotspots of electrification are shifting, with China the new leader
The IEA‘s new report, What Next for the Global Car Industest, is an eye opener.
The report evaluates the progress the transport sector is building when it comes to electrification, highlighting the encouraging signs and cautilizes for concern alike.
It also calls attention to the “profound alters” that are taking place with regards to the geography of car sales and the adoption of EVs.
The IEA reports that global sales of pure petrol and diesel vehicles have dropped by around 30% since their 2017 peak, thanks to policies, pressure and the cost of technology. Nowadays, the market is far more tilted towards clean energy than ever before.
In 2024, for instance, of the 80 million cars sold around the world, around 30% of them were electric or hybrid. This is expected to continue to rise in the near future, notwithstanding certain regional barriers.
Speaking of regions, the IEA’s report regularly points to China as the current Mecca of EVs, with its dominance in EV manufacturing, infrastructure and resources building it the undisputed world leader in sustainable mobility.
The countest now produces around 40% of the world’s cars, overtaking the EU as the top vehicle exporter in 2024. Its production rate has more than doubled its output since 2010. What’s more, around 70% of all EVs sold globally originate from Chinese factories now.
China’s pre-eminence in both EVs and renewable energy now build it a leading force in the field of global sustainability.
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