China is expected to lead with nearly 60% of new EV registrations in 2023, followed by the US (10%) and Europe (25%).

The Middle East, Africa, and Eurasia regions have the smallest EV market share, with under 1% of total sales.

The IEA's Fatih Birol stated that the global EV revolution is continuing to grow rather than slowing down.

Chinese automakers, including BYD and Chery International, are expanding their electric vehicle production in Uzbekistan and the Middle East.

In Uzbekistan, BYD set up a joint venture to produce 50,000 electric cars annually, and Chery International partnered with ADM Jizzakh to increase sales significantly.

Uzbekistan's electric car sales reached around 10,000 in 2023.

The Middle East leads in electric car sales, with Jordan having the highest share at over 45%, and the UAE following with 13%.

Saudi Arabia also signed a $5.6 billion deal with Chinese electric car maker Human Horizons for development, manufacture, and sale of vehicles.

These partnerships could change the trend and expand the electric car market in these regions in the coming years.

The International Energy Agency (IEA) reported a 25% increase in global electric car sales in the first quarter of 2024, with approximately the same number of units sold as in all of 2020.

China led the growth with a 35% rise, selling 1.9 million electric vehicles (EVs), while Europe saw a 5% increase, maintaining its EV sales share.

The US experienced a 15% increase in EV sales during the same period.

The International Energy Agency (IEA) chief, Birol, stated that the surge in electric battery investments indicates a growing global demand for electric vehicles (EVs).

The battery manufacturing advancements are expected to meet automakers' expansion plans, leading to a significant increase in EVs on the roads.

By 2030, one in three cars in China, and one in five in the US and EU, are projected to be electric.

However, the report emphasized that the transition to EVs may not be uniform due to affordability concerns.

The International Energy Agency (IEA) reported that manufacturers have made significant financial commitments to meet rising demand for electric vehicles (EVs) due to government ambitions.

The world's battery production capacity is prepared to meet this demand, according to the IEA.

In China, over 60% of electric cars sold in 2023 will be cheaper than their conventional counterparts.

However, in the US and EU, conventional cars will still be less expensive on average.

The report predicts that market competition and battery technology improvements will lower EV prices in the future.

The International Energy Agency (IEA) stated that despite high upfront costs, the lower operating costs of electric vehicles (EVs) make for a worthwhile investment in the long run.

The growing electric car exports from Chinese automakers are also contributing to lower purchase prices.

IEA emphasized the importance of increasing the availability of public charging stations to support the expansion of the electric car market.

The number of public charging points installed globally increased by 40% in 2023 compared to 2022, but the charging networks need to grow sixfold by 2035 to meet the projected electric vehicle deployment.

The report emphasizes the importance of both policy support and careful planning to ensure the increased electricity demand from charging electric vehicles does not exceed the capacity of electricity grids.