Global sales of electric vehicles are increasing amid the conflict in Iran and rising fuel prices, the Financial Times (FT) reports, citing a forecast by the International Energy Agency (IEA).
Electric vehicles and hybrids will account for approximately 30% of the global car market by 2026. Sales of such vehicles could reach 23 million units, compared to more than 20 million in 2025. The IEA notes that the growth in demand is due to cheaper batteries and consumers' desire to reduce fuel costs amid the energy crisis caused by the conflict in Iran. The highest sales growth rates are expected in Asia-Pacific and Latin America.
In Europe, sales of electric and hybrid vehicles could increase by approximately 20% by 2026, reaching a third of all cars sold. In China, which accounts for almost 75% of global electric vehicle production, prices continue to fall and exports from local manufacturers are increasing.