The International Energy Agency (IEA) predicts a robust growth in the sales of electric cars in 2024, despite economic challenges in certain markets. Key driving factors for this surge include affordability and the development of charging infrastructure.
The IEA estimates that electric car sales will reach 17 million this year, a boost from 14 million the previous year.
This indicates that more than one-fifth of the global car sales are projected to be electric, thereby challenging the oil demand for road transport. China is expected to be the biggest consumer, with a predicted sale of 10 million electric vehicles.
Despite concerns regarding tight profit margins, volatile prices of battery metals, high inflation rates, and the withdrawal of purchase incentives in some countries, the global sales data remains solid, says the Paris-based energy watchdog in…
