Electric Vehicle Sales to Reach 23 Million by 2026

Electric Vehicle (EV) sales are expected to reach a record 23 million units worldwide in 2026, according to a report by the International Energy Agency (IEA). Despite a slowdown in the global automobile market, Africa is emerging as a rapidly growing market, with sales more than doubling to exceed 30,000 units in the first half of 2026.

South Africa saw EV sales increase more than fivefold year-on-year, while Egypt recorded a threefold increase. The IEA's report indicates that electric cars will account for 29 percent of all new vehicles sold globally this year, even as overall car sales are projected to decline by about two percent.

Government initiatives, such as Kenya waiving import duties on 100,000 electric vehicles and Rwanda mandating that at least 30 percent of newly procured vehicles for public institutions be electric, are driving this growth. Globally, over 9 million electric cars were sold in the first half of 2026, with EVs making up 24 percent of all vehicle sales.