China accounted for 80% of global EV sales growth in 2024 : IEA report
China accounted for nearly 80 per cent of Electronic Vehicle growth globally, with EV sales jumping from over 3 million in the first half of 2023 to more than 4 million during the same period in 2024, according to a report by the International Energy Agency (IEA).
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As per the report, over 7 million electric cars were sold globally in the first six months of 2024, marking a 25 per cent rise compared to the same period in 2023. The report also noted that the share of electric vehicles (EVs) in the global car fleet is expected to reach around 5 per cent by the end of 2024.
Despite China's dominance, other markets also witnessed growth. EV sales outside China rose by over 10 per cent, with significant increases in countries like Brazil, Indonesia, Mexico and regions such as the Middle East and the Caspian.
However, in developed markets, the performance was mixed. The European Union saw flat EV sales, with a decline in Germany balanced by a modest rise of around 3 per cent in other EU countries.
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