According to the International Energy Agency’s (IEA) recent Global EV Outlook, electric vehicle sales reached unprecedented levels last year, with China securing its position as the global leader, according to a report from RT News.
In 2022, over 10 million battery electric cars and plug-in hybrids were sold worldwide, with China accounting for a staggering 60% of these sales.
The IEA report also highlighted that over half of the world’s electric cars are currently found on China’s roads.
Europe emerged as the second-largest market for electric vehicles, with sales experiencing a growth of more than 15% in 2022.
Meanwhile, the United States, the third-largest market, saw a remarkable 55% increase in sales last year, RT notes.
Electric vehicles now represent 8% of total car sales in the U.S.
The IEA noted that electric vehicles have been steadily capturing a larger share of the global car market over the past few years, climbing from under 5% in 2020 to 14% in 2022.
The agency predicts a continued upward trend in 2023, driven by supportive national policies, incentives, and the fear of a potential resurgence in oil prices, similar to those witnessed last year.