BAKU, Azerbaijan, April 23. The International Energy Agency (IEA) has published forecasts for the development of the electric vehicle industry worldwide, Trend reports via the IEA.
According to the agency's expectations, global electric vehicle sales can reach 17 million units in 2024, compared to 14 million electric vehicles sold worldwide in 2023 (a 35 percent increase from 2022).
"One in three cars on the roads in China by 2030 is set to be electric, and almost one in five in both the US and European Union," the IEA said.
IEA Executive Director Fatih Birol pointed out that electric vehicle manufacturers worldwide have made significant investments in increasing their production as well as in expanding battery production for electric vehicles.
"The expansion of electric vehicle use will help avoid the need to extract more than 10 million barrels of oil per day by 2035. This figure is equivalent to the total oil demand in the US automotive sector today," Birol emphasized.
According to him, competition and innovation will lead to a reduction in the cost of electric vehicles globally, thus increasing their sales.
"The transition to electric vehicles is reshaping the global automotive industry. In particular, China is active in this niche, and in 2023, Chinese companies accounted for more than half of global electric vehicle sales," the IEA study noted.
As for electric vehicle charging infrastructure, global production of charging devices increased by 40 percent in 2023 compared to 2022, and according to IEA forecasts, by 2035, there will be six times more charging stations worldwide than in 2023.