The global electric vehicle market is continuing its rapid expansion, with battery-electric vehicles and plug-in hybrids reaching record sales levels and steadily increasing their share of new car registrations worldwide.
According to data from the International Energy Agency, around 21 million battery-electric and plug-in hybrid vehicles were sold globally in 2025, more than double the level recorded in 2022 when worldwide EV sales first surpassed 10 million units.
The figures mean that roughly one in four new cars sold globally now features an electrified drivetrain, pushing the combined global market share of EVs and plug-in hybrids to 25%, up sharply from just 2% in 2018.
China remained the dominant force in the global EV market, accounting for approximately 13 million of the 21 million vehicles sold last year, or around 60% of worldwide new EV registrations.
Electric vehicles represented more than 60% of passenger car sales in China in April 2026, supported by aggressive pricing strategies from domestic automakers and the country’s extensive charging infrastructure network.
Outside China, around 8 million EVs were sold across global markets, with Europe and the United States remaining key growth regions.
In Europe, EV sales increased by nearly 30% during the first quarter of 2026, allowing battery-electric and plug-in hybrid vehicles to capture 28% of all new car registrations.
Industry analysts expect electrified vehicles to account for roughly one-third of new car sales in Europe by the end of 2026 as tightening fleet CO2 regulations continue to accelerate the transition away from internal combustion engines.
Emerging markets are also recording strong growth. EV registrations in Latin America rose by 75%, while sales in Southeast Asia doubled year-on-year.
Analysts forecast global EV sales could exceed 23 million units in 2026, with longer-term projections suggesting annual worldwide sales may reach 55 million vehicles by 2035.
The rapid adoption of electric vehicles is also expected to significantly reduce oil demand. Forecasts indicate that by 2030, the growing global EV fleet could cut crude oil consumption by around 5 million barrels per day.