Over 27% of cars sold globally in 2026 will be electric, up from 9% in the next five years. China dominates the market, having 64% of EV sales.

According to a BloombergNEF report, it is estimated that 27% of cars sold globally in 2026 will be electric (EV), a significant increase from 9% in the next five years. By 2035, it is projected that more than half (52%) of the cars sold will be electric.

This growth is supported by the decreasing prices of lithium-ion batteries, the emergence of more affordable EV models, and the increased demand in emerging markets. Additionally, rising fuel prices due to the conflict in Iran have heightened interest in electric vehicles. China remains the leader in the global market, with 64% of EV sales, while other emerging markets such as Singapore, Vietnam, and Turkey are experiencing significant growth.

However, affordability remains a challenge, with electric vehicles being 17% more expensive than combustion vehicles in major European markets. Analysts estimate that over 23 million EVs will be sold globally in 2026, with rapid growth in emerging markets.