the international energy agency had downbeat news about the world’s efforts to replace fossil fuels with renewable energy but for investors in tesla and electric vehicles broadly the news was the opposite of a bombshell the goal of the report is to track how well the world is doing as it seeks to cut carbon emissions to net zero by 2050 there seems to be a way to go according to the iea the oil and gas sector lowemission fuel supply the transportation industry industrial economy and commercial buildings are “not on track” to meet the 2050 deadline the electricity generation sector scored “more efforts needed” but the shift toward renewable power does have positive implications the iea says 2022 will be a record year for ev sales while that is certainly good news for tesla ticker tsla—the stock trades for 50 times estimated 2023 earnings while stocks of traditional auto makers trade for five times—it isn’t a surprise investors get data on sales of evs and other autos essentially monthly from a host of sources around the world but the iea’s goal isn’t to track ev sales in real time here is a look at three parts of the report that are most relevant for investors in evs and hydrogenfueled trucks the iea says ev sales will be a record around the globe in 2022 a call that matches what investors already know consider that ev sales in china the world’s biggest market for evs for instance have already eclipsed 2021 levels about 37 million socalled new energy vehicles a category that includes batteryelectric and plugin hybrid vehicles were sold in china through august  according to citi analyst jeff chung that is up 123 year over year about 35 million nevs were sold in all of 2021 the report also says evs should amount to 13 of all light vehicle sales in 2022 that is up from about 9 in 2021 that might surprise us investors evs account for about 5 of newcar sales in america the iea sees the potential for 60 of all lightvehicle sales to be electric by 2030 comparing all the competing ev sales models is difficult but that is probably a little faster than most investors expect renewable power accounts for roughly 40 of global electricity generation the iea says that share has to rise to 76 by 2030 if the world is to get to net zero carbon emissions by 2050 electricity sector investment rose 7 in 2021 with 440 billion spent on renewable power generation around the globe in 2022 almost 1 trillion will be spent on electricity generation including work on the grid with almost onehalf going toward renewables global hydrogen production amounted to about 90 million metric tons or 90 billion kilograms the rough equivalent of 90 billion gallons of diesel fuel for now most of that is produced using natural gas and is used in various industries including oil refining and steel making that amount of hydrogen however could power about 300000 heavyduty trucks for one year tesla stock is down 42 in early trading on what is turning out to be a bad day for stocks the sp 500 and dow jones industrial average were off 18 and 15 respectively