Global EV Sales and Market Share in 2025
Global electric car sales reached over 17 million units in 2024, with projections for continued growth in 2025 as battery costs decline and charging infrastructure expands. China remains the largest EV market, accounting for more than 60 percent of global sales, followed by Europe and the United States. According to the International Energy Agency, electric cars represented roughly 18 percent of total global car sales in 2024, a share expected to rise in 2025 as automakers scale production and governments maintain purchase incentives and emissions rules.
Tesla held the top global EV manufacturer position by volume in 2024, though BYD closed the gap with rapid growth in both domestic China and export markets. BYD sold over 3 million fully electric and plug-in hybrid vehicles in 2024, making it the largest single automaker by some quarterly measures, while Tesla delivered approximately 1.8 million vehicles for the full year. Traditional automakers including Volkswagen, General Motors, and Hyundai increased EV output in 2024 and plan further model launches in 2025 to capture share in key markets.
Battery Costs, Supply Chains, and Key Manufacturers
Average lithium-ion battery pack prices fell to around 115 dollars per kilowatt-hour in 2024, down from roughly 139 dollars per kilowatt-hour in 2023, according to BloombergNEF. This decline supports cheaper EVs and longer ranges, with several mainstream models now priced below 30,000 dollars in key markets. China-based battery makers CATL and BYD FinDreams dominate global production, together supplying a large share of EV batteries worldwide, while U.S. and European plants ramp up to meet local demand and reduce supply chain risks.
CATL supplied batteries for over 10 million electric vehicles in 2024 and expanded production capacity in Europe and North America to serve automakers including Tesla, BMW, and Ford. Tesla operates its own battery production lines at Gigafactories in Nevada, Texas, and Berlin, aiming to reduce costs and secure supply for its Model Y, Cybertruck, and next-generation platform. The U.S. Inflation Reduction Act and similar policies in Europe and Canada provide tax credits and incentives tied to domestic battery materials processing and cell manufacturing, reshaping global supply chains through 2025.
Charging Infrastructure, Policy, and Investment Trends
Global public EV charging points surpassed 4 million in 2024, with China accounting for more than 2.5 million stations and the United States operating over 180,000 public ports as of late 2024. The U.S. National Electric Vehicle Infrastructure program allocated over 7.5 billion dollars to build a national charging network, though deployment has faced delays and contractor adjustments, while the European Union requires fast-charging hubs every 60 kilometers along major transport corridors from 2025.
Automakers and energy companies are investing in high-power charging to reduce average charging times below 20 minutes for many new models, with 800-volt architectures adopted by Hyundai, Porsche, and Lucid. The U.S. Securities and Exchange Commission filings show major EV and battery companies raising billions in new capital for factory expansion and technology development, while trade data from the U.S. International Trade Commission highlights shifting tariff and import patterns affecting battery cells, minerals, and finished vehicles in 2025.