EV Prices Plummet Globally, Except in America
Electric vehicles are getting cheaper across most of the world, but the United States is moving in a different direction. A quarter of all new cars sold worldwide are now electric, according to a recent International Energy Agency report. Released on May 20, Global EV Outlook 2026 found that in the U.S., the figure remains stuck at roughly 10%, with the gap between those two trajectories widening considerably in 2025. Worldwide, more than 20 million electric cars changed hands in 2025, a 20% jump from the prior year. Battery costs fell 8% as commodity prices remained low and manufacturers increasingly adopted lithium iron phosphate chemistry, which sidesteps expensive metals like cobalt and nickel. On the other hand, sales edged down…
