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Electric car sales set to reach new high in 2024 driven by China

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A new study has indicated that electric vehicle sales will reach record highs in 2024 as a result of a skyrocketing uptake in China.

By the end of the year, 45% of new vehicles sold in China will be electric and 25% in Europe.are surging and expected to break another record in 2024, the International Energy Agency said on Tuesday, with China a big market for that growing demand.

“Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth,” said IEA director Fatih Birol. Competition between manufacturers, the fall in battery and car prices, and government subsidies are driving the trend, it added.

 

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