TOKYO — Electric vehicle sales are rising quickly in developing Asian countries but further growth will depend on offering cheaper models, many running on two or three wheels, the International Energy Agency said in a report published Wednesday.
The IEA said global consumers bought 10 million EVs in 2022, with 95% of sales concentrated in China, Europe and the U.S. It said “promising signs” were observed in emerging markets as India, Thailand and Indonesia experienced “a notable boom.”