The influential International Energy Agency (IEA) says electric cars are already on track to make up 18 percent of sales in 2023. With new policies driving growth in the US and the EU, the share of electric models in 2030 is now set to be more than double what it expected just two years ago.

Thanks to this "explosive growth" in EVs, the demand for oil-based fuels such as petrol and diesel in the road transport sector will start to decline within just two years. Around 5 percent of current oil demand will have been wiped out by 2030, it adds.
The IEA’s new Global EV Outlook report concludes that, by the end of the decade, electric cars sales are on track to cut annual emissions equivalent to Germany’s entire economy.
However, the agency notes that the growing popularity of sports utility vehicles (SUVs) is a “major concern”. Here's Why You Shouldn't Buy An SUV - even if it's electric.
Thanks to the sale of more than 10m electric cars in 2022, global emissions have been reduced by 80m tonnes of CO2, says the IEA. The agency adds that sales are expected to reach 14m by the end of this year. This would amount to 18 percent of global car sales in 2023, up from 14 percent a year earlier and just 1 percent in 2017.
On this trajectory, these vehicles will have nearly quadrupled their market share since 2020, when they made up less than 5 percent of sales.
The “exponential” growth in electric car sales can be seen in the chart below. China (red) has consistently dominated the market, making up roughly 60 percent of global sales in 2022.
