S&P Global Mobility projects that global electric vehicle sales will rise by nearly 30% in 2025, reaching 15.1 million units, up from 11.6 million this year.
The U.S. is poised for a 36% increase in EV sales, from 8.2% to 11.2% market share, despite uncertainties surrounding federal tax credits and production shifts.
China will maintain the largest EV market share at 29.7%, but will see the smallest year-over-year change, signaling a gradual shift in the global landscape.
In contrast to the booming EV market, overall global light vehicle production is expected to decrease slightly, highlighting the unique growth trajectory of electric vehicles.
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