2024-09-23 05:41:45

EV sales to hit all-time high in 2022, IEA saya, but more work needed to put world on net-zero path

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CNBC
By Anmar Frangoul

Key Points

  • The IEA says both EVs and lighting are fully on track for their 2030 milestones in its net-zero by 2050 scenario.
  • Paris-based organization says 2022 is expected to see another all-time high for electric vehicle sales, lifting them to 13% of total light duty vehicle sales globally.
  • The debate and discussion about climate goals and the future of energy is becoming increasingly fierce.

Tesla electric cars photographed in Germany on March 21, 2022. According to the International Energy Agency, electric vehicle sales are on course to hit an all-time high this year.

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Sean Gallup | Getty Images News | Getty Images

Electric vehicle sales are on course to hit an all-time high this year, but more work is needed in other sectors to put the planet on course for net-zero emissions by 2050, according to the International Energy Agency.

In an announcement accompanying its Tracking Clean Energy Progress update, the IEA said there had been encouraging signs of progress across a number of sectors but cautioned that stronger efforts were required to put the world on track to reach net zero emissions by the middle of this century.

The TCEP, which is published yearly, looked at 55 parts of the energy system. Focusing on 2021, it analyzed these components' progression when it came to hitting key medium-term milestones by the end of this decade, as laid out in the Paris-based organization's net-zero pathway.

On the EV front, the IEA said global sales had doubled in 2021 to represent nearly 9% of the car market. Looking forward, 2022 was expected to see another all-time high for electric vehicle sales, lifting them to 13% of total light duty vehicle sales globally.

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