EV sales to increase by 30% across world in 2025: Study

A recent study projects that 15.1 million electric vehicles will be sold worldwide in the upcoming year, accounting for 16.7% of all new automobile sales worldwide. According to the report, sales of BEVs are expected to reach 11.6 million units in 2024, with a nearly 30% annual rise predicted in 2025.

According to the S&P Global Mobility research, government policies, tariffs, incentives, and charging infrastructure will all have an impact on growth, which will differ by region.

Focusing on specific regions, the data projected that despite a 117% year-over-year increase, the survey found that EVs will only make up 7.5% of all automobile sales in India. 

The research further showed that EVs will increase by 36% in the US, but their market share will only be 11.2%. However, ten years ahead of schedule, EVs are predicted to surpass ICE-powered vehicles in China for the first time. In central and western Europe, BEVs are anticipated to hold a 20.4% market share and boost their sales by 43.4% annually.