Electric-powered models are expected to hold over 40% of the global automotive market share by 2030, APA reports, citing a report by the International Energy Agency (IEA) on the global development of electric vehicles.
“Despite significant uncertainties, electric cars’ market share is on course to exceed 40% by 2030 as they become increasingly affordable in more markets,” the report states.
Uncertainties over global economic growth and the evolution of trade and industrial policies could affect the outlook. But sales of EVs are being supported by their increasing affordability, the report finds.
“Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally. Sales continue to set new records, with major implications for the international auto industry,” said IEA Executive Director Fatih Birol.
“This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies. By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable,” he added
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