. The IEA publishes an annual report that identifies and assesses recent developments in electric mobility across the globe. It is developed with the support of members of the Electric Vehicles Initiative.— examines key areas of interest such as the deployment of electric vehicles and charging infrastructure, battery demand, investment trends, and related policy developments in major and emerging markets.
Almost 14 million new electric cars were registered globally in 2023, the IEA report says. That brings the total number of electric cars on the road worldwide to 40 million, which is close to the number forecast by the IEA in last year’s global summary report. Electric car sales in 2023 were 3.5 million higher than in 2022, a 35% year-on-year increase and more than 6 times higher than in 2018. In 2023, there were over 250 000 new registrations per week.
The IEA points out that in countries where 220 volts or higher is the standard for most residential and small business applications, overnight charging is easy even for electric cars with relatively large batteries. However, where 110 volts is the norm, many homeowners need to invest in upgrading their electrical service to accommodate a Level 2 charger. In some countries, that extra cost may deter some potential EV buyers.