Worldwide Electric Vehicle Sales Surpassed 10 Million Units In 2022

Electric vehicle sales around the world rose 55% in 2022 and surpassed a record 10 million units, according to the International Energy Agency (IEA).

The report says that China led the way last year, accounting for 60% of all electric vehicle sales.

The record figures continue a trend of strong growth for electric vehicles sales worldwide.

The IEA said that more than 26 million electric vehicles were on the world’s roads at the end of 2022, a 60% increase from 2021.

Looking ahead, the IEA, which is headquartered in Paris, France, forecast that worldwide electric vehicle sales will reach about 14 million units this year.

The agency also described China as the frontrunner when it comes to the sale of electric cars, trucks, and SUVs, with more than half of all electric vehicles now based in the country of 1.4 billion people.

While China, Europe and the U.S. are big players when it comes to electric vehicles, the IEA said that other parts of the world, notably India, are showing signs of growth.

India is ramping up both electric vehicle and component manufacturing, according to the IEA report. The growth has been spurred, in part, by a $3.2 billion U.S. incentive program from the Indian government.

electric vehicle