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  • Electric car markets are seeing exponential growth as sales exceeded 10 million in 2022
  • Electric car sales are expected to continue strongly through 2023
  • There are promising signs for emerging electric vehicle (EV) markets, albeit from a small base
  • Market trends and policy efforts in major car markets are supporting a bright outlook for EV sales
  • Projected demand for electric cars in major car markets will have profound implications on energy markets and climate goals in the current policy environment
  • The European Union and the United States have passed legislation to match their electrification ambitions
  • Battery manufacturing continues to expand, encouraged by the outlook for EVs
  • Global spending on electric cars exceeded USD 425 billion in 2022, up 50% relative to 2021
  • SUVs and large cars dominate available electric car options in 2022
  • The electric car market is increasingly competitive
  • Consumers can choose from an increasing number of options for electric cars
  • Electrification of road transport goes beyond cars
  • The commercial vehicle stock is also seeing increasing electrification
  • Ambition with respect to electrifying heavy-duty vehicles is growing
  • The increase in demand for electric vehicles is driving demand for batteries and related critical minerals
  • New alternatives to conventional lithium-ion are on the rise
  • The EV supply chain is expanding, but manufacturing remains highly concentrated in certain regions, with China being the main player in battery and EV component trade
  • EV supply chains are increasingly at the forefront of EV-related policymaking to build resilience through diversification

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Source: IEA

Global EV Outlook 2023 – Analysis - IEA
Global EV Outlook 2023 - Analysis and key findings. A report by the International Energy Agency.
Global EV Outlook 2023 – Analysis - IEA

Joey Hirendernath's avatar
Joey Hirendernath
@joeyhirendernathMay 1
Great set of data points! Thank you for sharing I know @averageinvestor and @yaninvests follow the EV space
Todor Kostov's avatar
Todor Kostov
@kostofffMay 1Author
@joeyhirendernath Thanks, Joey! That's great!
AverageInvestor's avatar
@averageinvestorMay 1
Todor Kostov's avatar
Todor Kostov
@kostofffMay 1Author
Buying Your Time's avatar
Buying Your Time
@buyingyourtimeMay 3
Good share as always. Thanks man
Todor Kostov's avatar
Todor Kostov
@kostofffMay 3Author
@buyingyourtime Pleasure!
Todor Kostov's avatar
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