China still at the forefront of the transition to electric power

China is no longer the sole driver of electric and plug-in hybrid car sales: emerging countries such as Brazil, Vietnam, and Indonesia are also rapidly electrifying, according to the annual report published Wednesday by the International Energy Agency (IEA).

More than 17 million of these vehicles were sold worldwide in 2024 (including plug-in hybrids), bringing their global market share above 20% for the first time. In the first three months of 2025, electric car sales increased by a further 35% compared to the first quarter of 2024. “Electric cars have become an integral part of the automotive industry worldwide,” IEA Executive Director Fatih Birol said at a press conference. “Despite significant uncertainties, electric cars remain on a strong growth trajectory,” he stressed.

These uncertainties are primarily linked to the risk of a global economic recession and the vicissitudes of international trade, with the implementation of customs surcharges by the United States. A sustained drop in the price of oil could also slow the growth of electric vehicles. The IEA noted, however, that the development of electric vehicles had already slowed the growth of global oil demand, Fatih Birol stressed, in addition to reducing _CO2 and toxic gas emissions.

"This year, we expect more than one in four cars sold worldwide to be electric," and this proportion is expected to rise to two in five cars by the end of the decade, as electric cars become increasingly affordable, Birol added.

China continues to lead the transition to electric vehicles, accounting for nearly two-thirds of global sales last year, thanks in part to highly competitive pricing. Sales of electric and plug-in hybrid cars are projected to increase by nearly 40% by 2024, reaching nearly one in two vehicles sold, and possibly 80% by 2030, according to the IEA.

In Europe, these models have stagnated, with a decline in bonuses in some countries, but also due to a lack of affordable models. European states' targets remain ambitious, with nearly 60% market share by 2030, even though the EU is confirming a reduction in short-term targets, the effects of which "remain to be seen," according to the IEA.

In the United States, the growth of these models has slowed, but they have reached around 10% market share. The IEA's forecast for 2030 has been halved with the arrival of Donald Trump, to 20% of the market.

Sales in emerging economies in Asia, Latin America, and Africa climbed 60% last year, boosted by "policy incentives and the growing presence of relatively affordable electric cars from Chinese automakers," the IEA notes. Electric vehicles accounted for 13% of sales last year in Thailand, 17% in Vietnam, and doubled in Brazil, the ethanol powerhouse, to reach 6% of sales.