Electric vehicles (EVs) are now mainstream, accounting for one in five cars sold globally in 2023. In the first quarter of 2024, global EV sales rose by 25 percent year-over-year, sustaining a growth rate similar to 2022. The International Energy Agency estimated that electric cars would represent 45 percent of new car sales in China, 25 percent in Europe, and over 11 percent in the US in 2024. From January-November 2024, China led the global EV market, with 9.7 million of the 15.2 million EVs sold.