One in five cars sold worldwide is now electric: IEA
International Energy Agency (IEA) has showcased the growing prevalence of clean and renewable energy in the global transportation sector in the World Energy Outlook 2023 report. One out of every five cars sold worldwide is now an electric vehicle (EV), a substantial increase from one in 25 cars in 2020. The IEA forecasts that by 2030, the number of EVs on the road could be at least 10 times higher than today, signaling a bright future for electric mobility.
Global emissions to peak by 2025
In the IEA report, the significance of greener electricity sources to support the expanding EV market is underlined. It anticipates that solar and wind energy will become increasingly important in the global energy landscape, while the contribution of fossil fuels like oil, coal, and natural gas is expected to decrease from 80% to around 73% by 2030. This transition toward renewable energy sources is essential for reducing global emissions, which are projected to reach their peak by 2025.
Country-specific predictions for renewable energy and EVs
The IEA report offers country-specific forecasts for renewable energy and EV adoption by 2030. India could be producing 18% of its electricity from solar, up from 6%. Renewable energy generation in the US may increase to around 45%, up from 22%. In Southeast Asia, electric two-wheelers will account for 45% of all sales, while in the European Union, electric cars will make up 65% of all sales. China is projected to have 100 million EVs on its roads by 2030.
