On May 14, the International Energy Agency (IEA) unveiled its Global EV Outlook 2025 report. The report highlights that despite global economic uncertainties, the electric vehicle (EV) market remains resilient and is expanding at a robust pace. By 2025, it is projected that global EV sales will surpass 20 million units, comprising over a quarter of total new vehicle sales worldwide. Notably, sales in 2024 are anticipated to hit 17 million units, marking a 25% increase from the previous year and capturing 20% of the global automotive market share for the first time. Sales in the first quarter of 2025 are forecasted to grow by an additional 35% year-on-year, indicating a pronounced upward trajectory.
