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IEA: Oil Shock Sparks Surge in EV Sales

Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid…

Source OilPrice AI Summary Updated May 20, 2026

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Freshness Stale Updated May 20, 2026

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Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid spiking fuel prices in the wake of the Iran war, the International Energy Agency (IEA) said on Wednesday. Following strong growth in 2025, this year EV sales are set to reach 23 million globally in 2026, accounting for almost 30% of all cars sold worldwide, the IEA said in its annual Global EV Outlook 2026 report out today. Last year, EV sales grew by 20% globally and accounted for one-quarter of all new cars…

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