Almost 22 million electric cars produced in one year

The world is rapidly transitioning to electric mobility – last year, one in every four new cars sold globally was electric. With more than 20 million vehicles sold and 20 percent growth, the electric car market continues to break records, according to the International Energy Agency’s report “Global EV Outlook 2026”.

Among the major markets, Europe stood out the most, with electric car sales increasing by more than 30 percent, accounting for a 28 percent share of total car sales. This growth is also linked to the tightening of the European Union’s CO2 emission standards for cars.

China remains the largest and most dynamic market, although sales growth has slowed slightly, partly due to a temporary slowdown in the vehicle replacement programme. Despite this, electric vehicles accounted for around 55 percent of total car sales in the country. In the United States, the market remained relatively stable, with electric cars accounting for just under 10 percent of total sales.

However, the smaller markets of Southeast Asia are particularly noteworthy, where annual electric car sales more than doubled, reaching almost one-fifth of total sales, led by Vietnam, Indonesia and Thailand. Latin America also recorded strong growth, driven mainly by Brazil and Mexico.

Import and Export Dynamics in the Largest Markets

Nearly 22 million electric cars were produced globally, around one-quarter more than a year earlier. The report identifies China not only as the largest market but also as the leading production centre for electric vehicles. Chinese manufacturers accounted for around 60 percent of global electric car sales in 2025, while nearly three-quarters of all electric cars in the world were produced in China.

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Given this, it is not surprising that Chinese electric car exports doubled in 2025, reaching more than 2.5 million vehicles, even though China had already overtaken the European Union in 2024 to become the world’s largest car exporter.

As for electric car exports from the European Union, they increased by 25 percent, while imports also rose by around 35 percent, reaching more than 900,000 vehicles. China accounted for almost 60 percent of those imports.

Fuel Market Developments Affect EV Appeal

Fuel prices are increasingly influencing interest in electric vehicles, particularly among drivers who cover longer distances and companies operating large vehicle fleets. However, the beginning of 2026 once again showed that the electric car market is not growing at the same pace everywhere. Global sales in the first quarter were eight percent lower than a year earlier, primarily due to weaker sales in China and the United States following changes in support policies.

Behind this overall decline, however, there were significant differences between individual markets. Europe continued to grow strongly, with sales increasing by nearly 30 percent, while Asia-Pacific countries excluding China recorded 80 percent growth and Latin America 75 percent.

Prepared by: Milica Vučković

Read the full article in Energy portal Magazine CLEAN ENERGY