The International Energy Agency (IEA) released the “Global Electric Vehicle Outlook 2023” report on April 26, stating that currently the majority of electric vehicle sales are concentrated in three major markets of China, Europe and the US. Among them, China is leading.
According to the report, last year, China accounted for 60 percent of the world’s electric vehicle sales, and more than half of the world’s electric vehicles sold were in China. Last year, sales of electric vehicles in Europe and the US grew by 15 percent and 55 percent, respectively. At the same time, sales of electric vehicles in India and Indonesia more than tripled.
Global sales of electric vehicles this year will reach 14 million vehicles, up 35 percent from last year, and their share of the overall automobile market will rise to 18 percent, the report said. The energy industry was deeply affected by the drastic changes in the global automobile industry. By 2030, the electrification of vehicles will reduce global oil demand by at least 5 million barrels per day.
According to the report, the announced global battery production projects are sufficient to meet the demand for electric vehicles till 2030. In the year 2022, China’s battery and component exports will account for more than 35 percent of the world’s share.
(Credits, China Media Group, Beijing)
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