EVs to capture one-sixth of global market in 2023 amid record growth
Electric vehicles are on track to hit 14 million global sales in 2023, up from 10 million the year before — a jump that has analysts revising their forecasts upward yet again. The International Energy Agency now expects EVs to make up 35 percent of new car sales worldwide by 2030, a sharp leap from the 21 percent it predicted just one year earlier. The shift is showing up in unexpected places too: in India, more than half of all three-wheeled vehicles registered last year were electric, hinting at a faster, leapfrog path through the Global South. With oil demand now projected to peak as early as 2025, the economic logic of the transition is finally pointing the same direction as the climate logic.
