The EV share of new-car sales crossed roughly 20% globally — an S-curve few forecasts caught.
Electric vehicles have gone from novelty to default faster than almost anyone predicted. Around one in five new cars sold worldwide in 2025 was fully electric, up from under 1% in 2016. Growth is uneven: China leads by a wide margin at roughly 60% of global EV sales, Europe is second, and the United States a distant but rising third.
The engine underneath is battery cost. Pack prices have fallen roughly tenfold since 2010 — from about $1,000 to near $100 per kilowatt-hour — as cheaper, safer LFP chemistry took over the mainstream and nickel-rich cells held the long-range premium end. The competitive centre of gravity has shifted toward China's supply chain, where BYD now outsells Tesla on total volume.




