Electric vehicles (EVs) are on track for significant growth in 2025, with global sales expected to increase by 30%.
According to S&P Global Mobility, EVs are projected to account for 16.7% of global vehicle sales, up from 13.2% in 2024. This means that by next year, 15.1 million battery electric vehicles (BEVs) could hit the road, a major jump from the 11.6 million estimated for 2024.
While the global EV market is expanding, the pace of growth will differ widely across regions, shaped by factors like government policies, incentives, tariffs, and the development of charging infrastructure.
In the U.S., EV sales are expected to rise by 36%, reaching 11.2% of the car market. However, this growth largely hinges on what the new administration will do regarding EV tax credits and tariffs on foreign-made vehicles.
China continues to lead the global EV market, with electric vehicles set to represent nearly 30% of the country’s car sales in 2025. However, as the market matures, the growth rate will slow to 20%. Even with this slowdown, China is poised to surpass internal combustion engine (ICE) vehicles for the first time in 2025, aligning with the government’s ambitious target to have EVs make up 50% of new car sales by 2035. But the competition in China is fierce, with an oversupply of models, price wars, and the declining presence of foreign automakers pushing local brands to the forefront.
Meanwhile, in Europe, despite challenges like Germany’s weakening EV sales due to the reduction in subsidies, the market is still poised for growth. EV sales in Western and Central Europe are expected to jump by 43%, reaching over 20% of the market share in 2025. Even though countries like France and Spain are scaling back their subsidies, Europe’s transition to electric is continuing to gain momentum.
As automakers reassess their electrification strategies—shifting some focus to hybrids—analysts remain optimistic about the future of EVs. The global shift to electric is undeniable, even as regional challenges and policy changes shape how quickly this transformation unfolds. The EV boom is far from over, and 2025 is set to be another pivotal year for the industry.