Global EV Sales Top 20 Million as China Hits 55% Share and U.S. Stalls at 10%
Updated
Updated · TechCrunch · May 20
Global EV Sales Top 20 Million as China Hits 55% Share and U.S. Stalls at 10%
5 articles · Updated · TechCrunch · May 20
More than 20 million EVs were sold worldwide last year, lifting electric vehicles to 25% of the global market even as U.S. sales stayed stuck near a 10% share.
China drove the split: nearly 55% of new vehicles sold there were electric, and more than two-thirds of EVs were cheaper than the average gasoline car, helping Chinese brands expand across Europe, Southeast Asia and Latin America.
Latin America posted 75% EV sales growth, while Southeast Asia got more than half its EVs from Chinese makers and Europe imported over 500,000 Chinese EVs, undercutting the view that developing markets are too price-sensitive for electrification.
U.S. demand was held back by the loss of EV tax credits and barriers to Chinese imports, leaving startups such as Rivian and Lucid more exposed while legacy automakers rely on combustion profits.
China now has enough manufacturing capacity to meet 65% of global demand, and with battery EVs expected to become cheaper to build than combustion cars as soon as next year, automakers that slow EV plans risk losing global share.
As China's EVs conquer new markets, is America forfeiting global auto leadership?
How can Western automakers compete when China controls 85% of the battery supply chain?
With EVs soon cheaper than gas cars, how can legacy automakers survive the transition?
2026 Global EV Market Report: China’s Dominance, Europe’s Ascent, and U.S. Policy Stumbles
Overview
The global electric vehicle (EV) market is expanding rapidly, with sales reaching 2 million units in 2025, up from 1.3 million previously. This growth is seen across diverse regions and has steadily increased EVs’ share of total passenger car sales since 2018. In Europe, the shift away from internal combustion engine vehicles accelerated in early 2026, highlighted by a significant drop in petrol car registrations. These trends reflect a strong global momentum toward electrification, driven by rising consumer adoption and supportive market dynamics, positioning EVs as a transformative force in the automotive industry.