Global Electric Vehicle Outlook Weaker Than Previously Expected, BloombergNEF Says

MT Newswires Live06-16

Global electric vehicle sales are expected to be slower than previously expected, especially in the United States, hurt by the withdrawal of regulatory support for electrification in the country, according to a Tuesday note published by BloombergNEF.

The note stated that electric vehicles are set to account for 66% of global passenger vehicle sales by 2040, down from 70% in the previous outlook. In the United States, the outlook was cut to 57% from 71% previously.

China accounted for 63% of the 21 million electric cars sold globally in 2025 and will likely account for 52% of the expected 35.4 million sales by 2030.

Electric vehicles are expected to account for 38% of new passenger vehicle sales in 2030, up from 27% in 2026, BloombergNEF reported.

BloombergNEF said that other factors contributing to the weaker outlook in the United States, and by extension, globally, are the end of supportive elements in the Inflation Reduction Act and the removal of California's ability to set its own air quality standards.

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