Global oil shortages are driving more motorists to buy electric vehicles, with predictions they could account for almost one in three cars sold worldwide within a year.
Australian drivers could be among those behind the trend after a report found local motorists would save an additional $688 with an EV due to record petrol price increases.
The International Energy Agency released the findings on Thursday in its annual report on the sector, which also found electric vehicles were on track to represent half of all vehicles sold in 2035.
The forecast comes after Australians bought a record number of electric and hybrid vehicles in March and April following fuel shortages caused by conflict in the Middle East.
The agency's Global EV Outlook 2026 report, which combines sales data with analysis, found electric cars sales exceeded 20 million in 2025, representing a rise of 20 per cent.
