Every fifth car sold worldwide this year will be electric

It’s going to be yet another good year for electric cars.

They will account for nearly a fifth of global automobile sales in 2023—it was 4% in 2020—a report by International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, has said. E-cars sales are set to grow by 35% to reach 14 million in 2023, it noted.

“The internal combustion engine has gone unrivalled for over a century, but electric vehicles are changing the status quo. By 2030, they will avoid the need for at least five million barrels a day of oil. Cars are just the first wave: electric buses and trucks will follow soon,” said Fatih Birol, IEA executive director.