Governors' Biofuels Coalition

Donald Trump might go down as the EV president. Global sales of electric vehicles are soaring, aided by skyrocketing gasoline and diesel prices resulting from the Iran war. In Europe, 1 in 5 new cars registered this year are fully electric. Add hybrids and it climbs to more than half of new registrations. In Australia and South Korea, EV sales were up 110% through the first half of 2026 compared to the same time in 2025.

And in China, total car sales were down 5% through August — but EV sales were up almost 18%. The EV surge is particularly notable given Trump’s attempts to neuter the industry in the U.S. The high price of gasoline and diesel is arriving at an opportune time for EVs. Electric models have long been more expensive to purchase than their gas- and diesel-powered competitors. But those price differences are shrinking in many parts of the world. And they have vanished entirely in China.

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