Electric cars are on course to make up almost 30% of all new car sales worldwide this year, as the shift away from oil gathers pace during the Middle East energy crisis, according to the International Energy Agency.
The IEA’s latest Global EV Outlook forecasts 23 million electric car sales in 2026, up from more than 20 million last year, when EVs accounted for a quarter of all new cars sold globally.
That is now becoming a structural shift in the car market rather than a niche trend, with around 40 countries already seeing electric cars take at least 10% of new sales.
The report says the growth also matters for energy security, because the war in the Middle East has triggered the largest oil supply shock in history and exposed drivers to volatile fuel prices.
The global picture has been uneven in early 2026.
Total EV sales fell 8% in the first quarter compared with the same period last year, mainly because of policy changes in China and the United States, but strong growth elsewhere shows the market is still spreading quickly.
Europe recorded a near 30% rise in EV sales in the first quarter, while Asia Pacific excluding China jumped 80% and Latin America rose 75%.
In March alone, almost 90 countries reported year-on-year EV sales growth, with around 30 reaching record monthly sales.
Southeast Asia is now emerging as one of the fastest-moving regions.
Electric car sales there more than doubled last year, reaching a market share close to 20%, with the IEA saying that could rise to 60% by 2035 if supportive policies and price trends continue.
China remains the giant of the sector.
Chinese carmakers supplied 60% of all electric cars sold worldwide last year, while the country produced nearly three-quarters of the almost 22 million EVs made globally.
As production outpaced domestic demand, Chinese EV exports doubled to more than 2.5 million.
The IEA said China also continues to dominate battery supply chains, accounting for more than 80% of battery cell production in 2025.
IEA Executive Director Fatih Birol said: “Electric car sales set new records in close to 100 countries last year.”
He added the rise of EVs “is providing some relief now amid the largest oil supply shock in history”.
The report also points to electric trucks as a fast-growing market, with global sales more than doubling in 2025 and electric models accounting for nearly one in 10 trucks sold worldwide
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