Smaller EV Prices to Drop in Coming Months as EV Sales Climb, IEA Says

Nearly one in five cars sold globally this year will be electric, with the prices of smaller EV models dropping to rival those of combustion engine cars in North America and Europe by the mid-2020s, the International Energy Agency (IEA) predicted on Wednesday.

The agency raised its EV sales forecasts in part because of the US Inflation Reduction Act, which supports green industry and subsidises consumers’ purchase of electric vehicles (EVs),…