The latest ICCT Vision 2050 analysis highlights how the global EV transition is increasingly being driven by emerging economies rather than traditional market leaders. While China remains dominant with nearly half of all passenger vehicle sales electric, the global EV share reached roughly 25% in the first half of 2025, propelled by rapid growth in countries like Vietnam, Thailand, Türkiye, and Indonesia. Vietnam’s rise—from near-zero EV sales in 2020 to 40% in 2025—underscores how supportive fiscal policies, domestic manufacturers, and cost-competitive imports can accelerate adoption at scale. These trends contrast sharply with policy slowdowns in the US and parts of Europe, where regulatory rollbacks and added flexibilities risk dampening momentum. Still, ICCT estimates that policies enacted since 2021 could avoid 20 billion tonnes of CO₂ emissions by 2050, showing that a Paris-aligned pathway remains achievable if emerging-market policy pipelines translate into ambitious, sustained action across both passenger and heavy-duty vehicles.