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The share of electric vehicles in sales of new passenger vehicles is set to more than double globally in the next few years — to 30% in 2026. Their penetration in some markets will be even higher, with EVs reaching 89% of sales in the Nordics, 52% in China and 42% in Europe. Our latest near-term EV sales outlook is brighter than what BNEF published last year, mostly due to policy changes in the US, where a major investment push sparked by the Inflation Reduction Act will help more than triple the share of EVs in new sales, to 28% by 2026.