Global Electric Vehicle Outlook: Electric car sales will hit 17 million this year, compared to 14 million in 2023, with more than one in five cars sold globally set to be electric, the IEA said, predicting 10 million of those sales would be in China.
IEA foresees 2024 as a groundbreaking year for electric car sales, especially in China. The global electric vehicle sector is poised for significant growth, driven by increasing investments in battery manufacturing and ambitious expansion plans by automakers.
IEA: "Tight margins, volatile battery metal prices, high inflation, and the phase-out of purchase incentives in some countries have sparked concerns about the industry s pace of growth, but global sales data remain strong," the Paris-based energy watchdog said in its Global Electric Vehicle Outlook.