The Electric Vehicle Outlook is BNEF’s annual flagship report looking at how electrification and other changes will impact road transport in the years ahead. The report draws on our team of specialists around the world and covers all major vehicle markets. It includes analysis on vehicle sales, oil markets, electricity demand, charging infrastructure, batteries, metals and CO2 emissions.
The picture in 2025
Global sales of electric vehicles continue to rise and are set to represent one in four cars sold this year. But some markets are experiencing a significant slowdown, and many automakers have pushed back their EV targets. Electrification is spreading quickly in other areas of road transport, with buses and two- and three-wheelers already reaching very high levels of adoption.
China dominates the global EV market, with over half of vehicles sold there now electric. Sales in the US are slowing and face uncertainty due to policy changes, while some emerging economies are experiencing record sales as more low-cost electric models arrive targeting local buyers.
EV charging infrastructure
More and more charging points are being built, but prices are rising in many markets. Each country will have its own optimal mix of home, workplace and public chargers.
The US EV market falters
Policy support for EVs in the US has changed significantly over the last year. These include elements of the Inflation Reduction Act that are being removed or threatened, as well as the potential removal of California’s ability to set its own emissions standards. BNEF’s outlook for US EV adoption has decreased as a result.
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