The International Energy Agency (IEA) has released projections for electric vehicle growth by 2030.

Its latest report forecast, the International Energy Agency’s Global Electric Vehicles Outlook, predicts that 125 million vehicles will be on public roads by 2030, up from roughly 3.1 million today. Governmental initiatives and sustainability goals are expected to play a critical role in adoption.

Other findings include 1 million electric cars sold in 2017, a 50-percent jump from 2016, with more than 50 percent of all units in China. In terms of leading market share for new sales, Norway leads the way, accounting for 39 percent of new sales, followed by Iceland and Sweden at 11.7 percent and 6.3 percent, respectively. One overwhelming figure belongs to China, with more than 99 percent of “electric bus and two-wheeler” stock attributed to the region.

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The growth and costs of public and private charging infrastructure are also touched upon, with charts depicting price and installed capacity of lithium-ion batteries across different storage applications such as residential storage and electric vehicles.

Last week, the IEA also revised its 2018 oil demand forecast, citing slowed consumption and reduced inventories below the five-year average, amidst a 17 percent increase in 2018 pricing to $78 a barrel.

To download the report free of charge (registration required), visit Global EV Outlook 2018