IEA data show China leading the world in EV sales

The International Energy Agency (IEA) has released a report that documents the dramatic increase in electric vehicle (EV) sales in the recent past. According to the IEA’s Global EV Outlook 2022, in 2012 120,000 units were sold. In comparison, in 2021, 6.6m units were sold. The report highlights factors that have been critical to the growth of EV sales. These include public spending on subsidies, product choice for consumers and electrification target-setting by governments and companies. The leading source of growth was China, with 3.3m EVs being sold in the country in 2021. One of the IEA's scenarios for the transition assumes that 30% of all vehicles worldwide by 2030 will be EVs.