The global electric vehicle market is expected to take another leap forward, with electric vehicle (EV) sales expected to grow 25% year-on-year in 2025.

According to the 'Electric Vehicle Outlook 2025' report recently published by BloombergNEF (BNEF), electric vehicle sales are expected to more than double over the next three years, and the entire market will reach a new turning point.

According to the report, global new passenger electric vehicle sales are expected to reach approximately 30 million units in 2025, growing by more than 25% compared to 2024.


During the same period, the proportion of battery electric vehicles (BEVs) and plug-in hybrids (PHEVs) is expected to steadily increase, with one in four vehicles expected to run solely on electricity.

Lithium-ion cell manufacturing capacity is expected to reach 3.8 TWh by the end of 2025, more than doubling demand.
br /> On the other hand, competition to secure key raw materials such as lithium, cobalt, and nickel is still fierce, and political and environmental risks in major producing countries such as China, Australia, and Chile could shake the supply chain.

There are currently more than 5 million public charging stations installed worldwide, and this number is expected to grow by an average of 30% per year.


Europe is focusing on expanding its highway and urban rapid charging networks, while China is increasing accessibility by building a ‘national charging network’.

The United States is supporting the installation of charging stations with the Inflation Reduction Act (IRA) and federal and state subsidies.

Looking at the detailed outlook by region, China has already surpassed 20% in passenger EV penetration, and electrification is rapidly spreading to small commercial vehicles.

If the US solves initial challenges (such as infrastructure licensing and power grid investment) after the implementation of the IRA, it can achieve a market share of more than 15% by the end of 2025.

In Europe, more than half of passenger car sales by 2030 are expected to be electric, thanks to a combination of electric vehicle model diversity and sales incentives.

In India and Southeast Asia, two- and three-wheeled electric vehicles account for 30% of the total two-wheeler market and are quickly becoming the go-to vehicle for urban commuting.

Electrification of commercial vehicles and logistics is also accelerating.

The electrification rate of light commercial vehicles and buses is expected to exceed 20% by 2025, and the introduction of electric and hydrogen vehicles will also expand in the large truck and freight transport sectors.

As demand for ‘emission-free transportation’ increases in logistics centers, airports, and ports, rechargeable and swappable battery solutions are also attracting attention.

Crude oil demand from the road transport sector is expected to peak around 2027 and then begin to decline. The expansion of electric vehicles will contribute to reducing CO2 emissions, reducing carbon dioxide by about 1.5 Gt per year by 2025.

BloombertNEF said, “In 2025, the electric vehicle market will continue to grow rapidly across all areas, including sales, production, and infrastructure,” but added, “On the other hand, there are also significant challenges to be addressed, such as supply chain instability, power infrastructure overload, and demand adjustment due to reduced subsidies.”

He also said, “If the automobile industry, battery manufacturers, charging service providers, and policy authorities work closely together to build a stable ecosystem, the journey to popularizing electric vehicles will become more solid.”