In 2023, China solidified its position as a global leader in electric vehicle (EV) production, securing nearly 60% of worldwide new EV registrations due to government subsidies, tax incentives, and rapid technological advancements. The country saw a significant rise in sales, with 1.29 million EVs sold in September 2024âa 42% increase compared to the previous year. This shift towards new EVs has led to rising concerns about battery recycling, as discarded vehicles become more prevalent amidst growing consumer preference for newer models.
China's aggressive investment in EV technology, combined with government support like subsidies and tax breaks, is catalyzing its dominance in the global electric vehicle market.
With new EV sales surging, the country represented nearly 60% of global registrations in 2023, highlighting its critical role in the automotive future.
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