Global Electric Vehicle Trend Explodes, How Did It Happen?

The global electric vehicle market is developing faster than expected. In six years, electric car sales have increased tenfold. In 2025, around 21 million electric cars were sold worldwide. Here is the comparison: In 2019, only 1% of new cars sold globally were electric. By 2025, the figure reached 25%. In May 2026, 63% of new cars in China were electric. Of the 1.4 billion cars worldwide, around 85 million are electric-powered. China leads electric mobility. The country has invested for years in future technologies such as solar and wind power, as well as in battery technology, a key component for electric mobility. Thanks to leading research and mass production, battery prices for electric cars are becoming cheaper, currently costing only a quarter of the price a decade ago. In China, electric cars have been cheaper than diesel or petrol cars since 2024. The Chinese government is also aggressively developing charging infrastructure and offering cheap electricity tariffs. In 2015, the share of electric cars in new car sales in China was just 1%, but by May 2026 it had reached 63%. There are various types of electric and hybrid vehicles. Battery Electric Vehicles (BEVs) account for about two-thirds of electric cars worldwide, operating entirely on electricity stored in batteries and charged via cable. Plug-in Hybrids (PHEVs) make up about one-third, equipped with both an electric motor and a petrol engine that can directly drive the wheels. Extended Range Electric Vehicles (EREVs) use electricity to drive the wheels, with the internal combustion engine acting solely as a generator to recharge the battery when depleted, extending the vehicle’s range. In the European Union, the share of electric cars among newly registered vehicles was just 1% in 2018, but by April 2026, nearly one in three new cars was electric. Electric mobility is particularly advanced in Northern Europe. In Norway, almost all new cars sold are now electric (99%), in Denmark the figure is 82%, and in Sweden 65%. Governments in these countries have long promoted green mobility, with excellent and continuously expanding charging infrastructure. In the UK, around 40% of new passenger cars in May 2026 were electric, in Germany 37%, and France 34%. In these three countries, electric car sales rose by about 30% compared to the same month the previous year. In the US, the electric car market has stagnated in recent years. Between 2023 and 2025, the share of electric cars in new vehicle registrations was only 10%, and in April 2026 it fell below 6%. Tax incentives for purchasing new electric cars there ended last year. Tesla’s Model Y and Model 3 are the best-selling electric cars globally, followed by Chinese-made electric vehicles. Globally, most electric vehicles are produced in China (71%), followed by Europe (17%) and the United States (5%). South Korea and Japan each produce 2% of the global total, while India produces 1%. The electric vehicle trend is also exploding in Asia and Latin America. According to the International Energy Agency (IEA) ranking, electric vehicle development in several Asian countries is very advanced: Nepal recorded 68% electric car registrations in 2025, followed by Singapore (63%), Vietnam (41%), and Thailand (23%). In Turkey, the figure reached 22% last year. These numbers are much higher than the US. In Latin America, electric car sales have also increased rapidly, tripling in just two years. In the first quarter of 2026, Uruguay recorded the highest electric car market share in new car sales at 31%, followed by Costa Rica (16%), Colombia (15%), and Brazil (10%). In Mexico, the figure reached 6%. Ethiopia is Africa’s electric vehicle pioneer. Since 2024, Ethiopia became the first country in the world to ban the import of new and used internal combustion engine vehicles. Since then, the number of electric vehicles there has nearly quadrupled, now reaching over 100,000 units. As 96% of Ethiopia’s electricity supply comes from hydropower, operating an electric car is about eight times cheaper than a petrol car. By increasing the shift to electric mobility, the government aims to utilise domestic electricity supply and save on high oil import costs. Electric cars are set to become cheaper than fossil fuel cars. Until now, the selling price of electric cars has generally been higher than that of fossil fuel cars. In 2025, according to the IEA, they were about 27% more expensive in the US, 19% in Germany, and 11% in Brazil and Turkey. However, prices are falling rapidly. In China, new electric cars are already available for under 10,000 euros (Rp200 million), and the average new electric car is 20% cheaper than a new fossil fuel car. In Europe, most electric cars are expected to reach price parity soon.