In 2025, 1 in 4 new automotive vehicle sales globally are expected to be an electric vehicle – either fully electric or a plug-in hybrid. In the U.S., however, EV sales have lagged, only reaching 1 in 10 in 2024. By contrast, in China, the world’s largest car market, more than half of all new vehicle sales are electric. The International Energy Agency has reported that two-thirds of fully electric cars in China are now cheaper to buy than their gasoline equivalents. With operating and maintenance costs already cheaper than gasoline models, EVs are attractive purchases.
