Global electric vehicle sales have reached the 10 million mark for the first time, representing 14% of all new car sales. Norway leads with 80% EV market share, followed by Iceland and Sweden.
The surge is driven by falling battery costs, improved charging infrastructure, and government incentives. Tesla remains the market leader, but traditional automakers are rapidly electrifying their lineups.
Market Growth:
- Battery costs down 85% since 2010
- Charging stations increased 300% in 3 years
- Electric SUVs becoming mainstream
Analysts predict that EVs will reach cost parity with gasoline vehicles by 2025, accelerating the transition to sustainable transportation.
