China accounted for nearly 80% of global electric vehicle (EV) sales growth in 2024, according to an International Energy Agency (IEA) report. EV sales worldwide rose from over 3 million in the first half of 2023 to more than 4 million during the same period in 2024, contributing to a 25% increase in total sales. The global share of EVs in the car fleet is projected to reach 5% by the end of 2024.

Sales outside China also saw growth, with a 10% increase in markets like Brazil, Indonesia, Mexico, and the Middle East. However, in developed regions, the performance was mixed. The European Union experienced flat sales, with a decline in Germany balanced by a 3% rise in other EU countries. In contrast, the UK and US saw sales grow by 15% and 10%, respectively.

The report noted a shift towards plug-in hybrid electric vehicles (PHEVs), which made up over 35% of total EV sales in the first half of 2024. In China, PHEV sales surged by 70%, driven by range-extended electric vehicles (REEVs) that offer longer driving ranges. Similarly, the US saw a 25% increase in PHEV sales, while battery electric vehicles (BEVs) grew by only 5%. The report also stressed the need for enhanced recharging infrastructure to support the expanding EV market and reduce range anxiety.