Global EV Outlook 2025

Current Context : The International Energy Agency (IEA) released its Global EV Outlook 2025, highlighting significant growth in electric vehicle (EV) adoption worldwide, with notable trends and projections for the coming years.

Key Findings

• Global Sales: In 2024, global EV sales reached a record 17 million units, accounting for over 25% of total car sales.
• Regional Leaders:
  • China: Continues to lead with 11 million EVs sold in 2024, representing nearly 50% of global sales.
  • Southeast Asia & Latin America: Countries like Thailand, Vietnam, and Brazil are emerging as new growth hubs for EV adoption.
• Market Projections: EVs are expected to comprise over 40% of global car sales in the near future, despite market uncertainties.
• Manufacturing Dominance: China remains the global leader in EV production, contributing over 70% of total output.
• Two & Three-Wheelers: These segments are the most electrified, with significant growth observed, particularly in developing countries.

India’s Position

• Adoption Rate: India’s EV growth trails behind Southeast Asia and Latin America, despite some progress in increasing sales.
• Three-Wheelers: India leads in electric three-wheeler adoption, with approximately 20% year-on-year growth in 2024, supported by initiatives like PM E-DRIVE.
• Challenges: The country faces hurdles such as inadequate charging infrastructure and the need for stronger policy support to accelerate EV adoption.