QAZAQ GREEN.  Global electric vehicle sales are on track to reach 23 million in 2026, accounting for close to 30% of all cars sold worldwide, according to the International Energy Agency's latest Global EV Outlook report.

In 2025, global EV sales grew by 20% to exceed 20 million, meaning one in four new cars sold was electric. In around 40 countries, EVs accounted for 10% or more of new car sales. Chinese automakers supplied 60% of EVs sold globally, while European and North American manufacturers each accounted for around 15%.

In the first quarter of 2026, global EV sales dipped 8% year-on-year following policy changes in China and the United States. However, this overall decline masked strong growth elsewhere: European sales rose by nearly 30%, Asia Pacific excluding China surged by 80%, and Latin America was up 75%. In March, around 30 countries registered record monthly sales.

The IEA notes that EVs are increasingly cost-competitive, which could reinforce demand — particularly as consumers seek relief from volatile fuel prices amid the energy crisis triggered by the Middle East conflict. Even without new policy measures, the global EV fleet is projected to reach 510 million by 2035, up from nearly 80 million today.

"Electric car sales set new records in close to 100 countries last year. The growing popularity of EVs is providing some relief now amid the largest oil supply shock in history," said IEA Executive Director Fatih Birol.

China remains the dominant force in EV manufacturing, producing nearly three-quarters of all electric cars made globally. As production outpaced domestic demand, Chinese EV exports doubled to a record 2.5 million units. Among markets outside the three major EV hubs — China, Europe and the United States — 55% of EVs sold were imported from China. China also controls over 80% of global battery cell production.

Southeast Asia stands out as a region of particularly strong EV momentum. Annual EV sales in the region more than doubled in 2025, reaching a market share of nearly 20% — a figure that could climb to 60% by 2035, driven by favourable pricing and supportive policies.