18:35 - 24.04.2024

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April 24, Fineko/abc.az. The International Energy Agency (IEA) expects significant growth in sales of electric vehicles and plug-in hybrid vehicles this year, which will reach an unprecedented global peak, despite slow growth in some markets. It is predicted that in 2024, 17 million electric vehicles with batteries and plug-in hybrid vehicles will find their owners. This figure is 20% higher than in the previous year.

ABC.AZ reports, referring to the foreign media that in an effort to remain competitive in an increasingly competitive environment, a well-known player in the electric car market, Tesla, has recently lowered prices. This strategic move was made due to the fact that the company is fighting to maintain its dominant position in the market with serious competitors, especially Chinese competitors such as BYD, which is its closest rival in the fight for the title of the world's largest manufacturer of electric vehicles with rechargeable batteries.

Recognizing the variability of demand in different countries, IEA head Fatih Birol stressed the tangible dynamics of the global transition to electric vehicles.

"The global electric vehicle revolution does not seem to be coming to naught, but is preparing for a new stage of growth," he noted.

Birol added that the wave of investments in battery production suggests that the electric vehicle supply chain is evolving to meet the ambitious expansion plans of automakers, and as a result, the share of electric vehicles on the roads is expected to continue to grow rapidly.

The dynamics of introduction of electric vehicles worldwide is heterogeneous. And if in Norway in 2023 four fifths of all cars sold were electric, then in the USA and the EU the sale of electric vehicles is at comparatively low level.