EA has released a new report titled ‘Global Electric Vehicle Outlook for 2026′, which highlights the strong momentum of electric vehicle development in 2025, achieving record sales in nearly 100 countries, and the current crisis may prompt further growth in key markets.
After strong growth last year, it is expected that global electric vehicle sales will rise again in 2026, reaching 23 million units, accounting for nearly 30% of the total global car sales.
By 2025, global sales of electric vehicles will increase by 20%, surpassing 20 million units, which means that one-quarter of all new car sales worldwide will be electric vehicles. In approximately 40 countries, electric vehicles account for 10% or more of new car sales. In terms of production, Chinese car manufacturers supply 60% of global electric vehicle sales, while European and North American car manufacturers each account for about 15% of global sales.
Following policy changes in China and the United States, global electric vehicle sales in the first quarter of 2026 decreased by 8% compared to the same period in 2025. However, this overall decline masks strong sales growth in many other countries and regions. In Europe, sales increased by nearly 30% year-on-year; In the Asia Pacific region excluding China, sales surged by 80%; In Latin America, sales increased by 75%. In March, nearly 90 countries worldwide achieved year-on-year growth, with about 30 countries setting monthly sales records.
The report found that electric vehicles are becoming increasingly cost competitive in key markets, which could boost demand, including from consumers concerned about fuel price fluctuations. By 2035, even without any new policy announcements, the global number of electric vehicles (excluding two wheelers and tricycles) is expected to soar to 510 million, compared to approximately 80 million currently.
The report found that the sales of electric trucks are also significantly increasing, with the vast majority in China. Global sales in 2025 have more than doubled compared to the previous year. Last year, electric vehicle models accounted for about 1/10 of global truck sales. The road transportation industry with the highest degree of electrification – two wheelers and tricycles – will continue to grow in 2025.
The report emphasizes that Southeast Asia is a region with particularly strong momentum in the development of electric vehicles. Last year, the annual sales of electric vehicles in the region more than doubled, with a market share of nearly 20%. According to the latest forecast, based on favorable price dynamics and policies, this share may soar to 60% by 2035. Several countries in Southeast Asia, including Vietnam, the region’s largest electric vehicle market, have announced plans to expand or extend tax incentives for electric vehicles as part of their response to the current energy crisis.
China remains the world’s largest electric vehicle manufacturing center, accounting for nearly three-quarters of the nearly 22 million electric vehicles produced worldwide last year. Due to production exceeding domestic demand, China’s exports of electric vehicles have doubled to a record high of over 2.5 million units. Outside of the three major electric vehicle markets of China, Europe, and the United States, 55% of electric vehicles sold in other parts of the world are imported from China – compared to less than 5% five years ago. China still holds a dominant position in the electric vehicle supply chain, accounting for over 80% of battery cell production by 2025 and even higher in the production of key materials for electric vehicle batteries.
Hebei Nanfeng Automobile Equipment (Group) Co., Ltd was established in 1993, which is a group company with 6 factories. We are one of the main suppliers of new energy vehicle components in China and the designated supplier of Chinese military vehicles. Our main products are high voltage coolant heater, electronic water pump, BTMS, electric air compressor, EPS, EHPS, electric air conditioning compressor, three way valve, parking heater, parking air conditioner, plate heat exchanger, etc.
Our factory’s production units are equipped with high tech machineries, strict quality control testing devices and a team of professional technicians and engineers endorsing the quality and authenticity of our products.
In 2006, our company has passed ISO/TS16949:2002 quality management system certification. We also bagged the CE certificate and Emark certificate making us amongst the only few companies in the world acquiring such high level certifications. Currently being the largest stakeholders in China, we hold a domestic market share of 40% and then we export them around the globe particularly in Asia, Europe and Americas.
Meeting the standards and demands of our customers have always been our top priority. It always encourages our experts to continuously brain storm, innovate, design and manufacture new products, impeccably suitable for the Chinese market and our customers from every nook of the world.
Post time: Aug-28-2026
