It seems so. At least, that is the conclusion of this year’s report on the electric vehicle (EV) market outlook published by BNEF. According to the report, the peak occurred in 2017. In the wake of the pandemic, the recovery in vehicle sales is occurring at a time of rapid expansion in EV sales across the world’s major automotive markets. The report forecasts that EV sales will reach 14 million units in 2025, up from 3.1 million in 2021. EVs will account for 16% of total automotive sales in 2025, but this average masks another reality: in countries like Germany, EV sales will reach nearly 40% of total sales, while in China—the largest EV market in absolute terms—they will reach 25%.