Electric Vehicle Sales Surge 40% as Battery Costs Hit Record Low

Global electric vehicle sales jumped 40% year-over-year in Q2 2026, driven by a dramatic decline in battery costs. Lithium-ion battery pack prices fell below $80 per kilowatt-hour for the first time, making EVs cost-competitive with internal combustion vehicles. China continues to lead global EV adoption with 60% of worldwide sales, followed by Europe and North America. New models from emerging manufacturers are expanding consumer choice across all price points.