IEA: Sales of electric vehicles to grow by 35% in 2023

Demand for electric vehicles in the world is growing strongly, and sales are expected to soar by 35% this year, to 14 million cars, Report informs with reference to the International Energy Agency (IEA).

Their share in the automotive market will increase to 18% from 14% in 2022.

"More than 10 million electric vehicles were sold globally in 2022, and sales are expected to grow by another 35% to 14 million this year. This strong growth means that the share of electric vehicles in the total automotive market has grown to 14% in 2022 from 4% in 2020. This year it will grow even more - up to 18%," the IEA report says.

The agency expects that the use of electric vehicles will reduce the need for oil in the amount of at least 5 million barrels per day by 2030.

The IEA also notes that China currently accounts for the largest number of electric vehicle sales (60%), followed by Europe and the United States in the top three.