Global EV sales hit 19.8% share; expected to overtake ICE by 2030

Electric vehicles now account for 19.8% of new car sales globally, with projections indicating they will surpass internal combustion engine vehicles by mid-2030 and reach 50% market share the following year. This marks a significant acceleration in the energy transition, with implications for oil demand, electricity grids, and automotive supply chains. The forecast is based on current trends and may be subject to policy and infrastructure constraints.

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