China’s electric vehicle (EV) industry has surged to global dominance, capturing 70% of EV sales in 2024, driven by companies like BYD and Geely. With advanced technology, low costs, and massive government support, China outpaces Western automakers, prompting concerns about competitiveness. Ford’s CEO called it a “humbling” challenge, as Chinese EVs expand into markets like … Read more
“China’s electric vehicle market soared in 2024, with 48% of car sales being EVs, driven by a 40% rise in new energy vehicle sales. Battery electric vehicles (BEVs) held a 25% share, while plug-in hybrids (PHEVs) surged. Government subsidies, competitive pricing, and exports fueled this growth, reshaping global markets.” China’s EV Market Dominates with Record-Breaking … Read more
Global electric vehicle (EV) sales soared by 24% in May 2025, reaching 1.6 million units, driven by China’s record-breaking 1.02 million sales. Europe saw a 27% year-to-date rise, while North America lagged at 3%. Falling battery costs and government incentives fuel optimism, though policy shifts in the US pose challenges. India’s EV market also grew, … Read more