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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
Electric vehicles charging at a local charging station in Hangzhou City, south China's Zhejiang Province, April 16, 2024. /CFP
Electric car (EV) sales will rise strongly in 2024 and increasingly undercut oil demand, the International Energy Agency (IEA) forecast on Tuesday, indicating a robust and continuous growth in EV demand.
Compared to 14 million in 2023, the EV sales in 2024 could reach around 17 million, accounting for more than one in five cars sold worldwide, said IEA in its Global EV Outlook 2024 report.
The report estimated that in 2024, China's EV sales will increase to about 10 million, accounting for about 45 percent of the country's domestic car sales. The market share of EVs in the United States and Europe are expected to reach up to over 11 percent and 25 percent, respectively.
Demand for EVs in emerging markets such as Vietnam and Thailand is also accelerating, according to the report.
"Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth," said IEA executive director Fatih Birol in a statement.
"Every other car sold globally in 2035 is set to be electric based on today's energy, climate and industrial policy settings," said the report.
The surging demand for EVs over the next decade was set "to remake the global auto industry and significantly reduce oil consumption for road transport," it said.
The report predicted that the pace of EV uptake will mean that oil demand for road transport should peak around 2025.
If countries carry through on stated energy and climate policies, some six million barrels per day (bpd) will be shaved off oil demand by 2030 and 11 million bpd by 2035 – or over a tenth of current total oil demand, the IEA said.
(With input from Reuters)