EV sales to continue growing despite trade uncertainty: IEA

Uncertainty about trade and industrial policy triggered by US tariffs won't derail growth in sales of electric vehicles, which should account for one in four cars sold this year, the IEA said yesterday.

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In its annual report on the outlook for the uptake of electric vehicles — a key element in efforts to reduce climate-changing emissions — the International Energy Agency indicated that the increasing affordability and lower operating costs was supporting sales.

"Our data shows that, despite significant uncertainties, electric cars remain on a strong growth trajectory globally," IEA Executive Director Fatih Birol said in a statement accompanying the report.

"This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies," he added.

"By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable."

The IEA put sales of EVs, including plug-in hybrids, at more that 17 million last year, as sales increased by more than 3.5 million vehicles from 2023.