Charging ahead: EVs outpace growth predictions
Electric cars are getting cheaper, more efficient and can travel farther than ever. China is driving the transition, but Europe and other countries are catching
Electric cars are getting cheaper, more efficient and can travel farther than ever. China is driving the transition, but Europe and other countries are catching up fast. The global market for electric vehicles (EVs) is growing much faster than expected. In just six years, sales have increased tenfold, with around 21 million electric cars sold worldwide in 2025. In 2019, EVs made up just 1% of new car sales globally In 2025, that figure rose to 25% By May 2026, 63% of new cars sold were electric Of the world's 1.4 billion cars, 85 million are now electric China and Europe are leading the charge, but the market is growing rapidly in other parts of the world too. China leads the way in electric mobility China has long been investing in solar and wind energy, as well as battery technology — the most critical component in electric vehicles. Thanks to advanced research and mass production, electric car battery costs have dropped dramatically. Today, they cost just a quarter of what they did ten years ago, and prices continue to fall. China is the world's largest car market, and consumers are reaping the benefits of their government's industrial strategy. EVs have cost less than combustion engine cars since 2024, the state has been rapidly expanding charging infrastructure for years, and electricity in China is very affordable. In 2015, electric vehicles made up just 1% of new car sales in China. By April 2026, that share had climbed to 61%. Not all EVs are equal Electric cars run on electricity and charge with a cable. Globally, two thirds of these EVs are so-called Battery Electric Vehicles (BEVs), which are powered by electricity alone. The remaining third also have a gas engine for backup on longer trips — these are known as Extended Range Electric Vehicles (EREVs) or Plug-in Hybrid Electric Vehicles (PHEVs). So-called Hybrid Electric Vehicles (HEVs), by contrast, always require gas or diesel to power their combustion engine.
An electric motor provides some assistance, with the electricity generated solely through regenerative braking. This technology reduces fuel consumption somewhat in city driving — but HEVs are not counted as electric vehicles in international statistics. One in three new cars in Europe is now electric In 2018, electric vehicles accounted for just 1% of new car registrations in the EU. By April 2026, almost one in three new cars sold was an EV. Northern Europe is taking the lead. In Norway, nearly all new cars sold are now electric (99%), followed by Denmark at 82% and Sweden at 65%. Governments across the region support climate-friendly mobility and are expanding charging infrastructure. Worker charging an electric truck at an Aral charging station. Image: ARAL In the UK, 39% of new cars registered in April 2026 were electric, followed by Germany at 37% and France at 32%. Across all three countries, EV sales doubled compared to the same month the previous year. Fewer electric cars in the USA The US market has stagnated in recent years. Between 2023 and 2025, EVs accounted for around 10% of new car registrations. By April 2026, that share had dropped to below 6%. Tesla is widely regarded as a pioneer of the modern electric vehicle industry. Its Model Y and Model 3 remain the best-selling electric cars in the world, though they are followed by a string of Chinese models. China dominates global EV production, manufacturing 71% of all electric vehicles worldwide. Europe is second at 17%, ahead of the US at just 5%. South Korea and Japan each account for 2%, with India at 1%. Momentum in Asia and Latin America In many developing and emerging economies, the share of EVs in new car sales is significantly higher than in the US. That's also the case elsewhere in Asia and Latin America. According to the International Energy Agency (IEA), several Asian countries are well ahead of the curve.
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