BloombergNEF has adjusted its global electric vehicle (EV) adoption forecasts downwards, primarily due to a slowdown in the U.S. market. However, one notable trend is the rapid growth of extended-range electric vehicles (EREVs), especially in China, where their sales surged by 83% in 2024, reaching 1.2 million units. EREVs, which predominantly run on electric power but include a gasoline generator, serve as a flexible alternative for consumers who are not yet ready to switch to fully electric models. This makes EREVs an attractive choice in the evolving landscape of electrified vehicles.
In 2024, the sale of EREVs in China spiked by 83% reaching 1.2 million units, marking them as the fastest-growing vehicle category globally.
Extended-range electric vehicles (EREVs) blend electric efficiency with gasoline backup, appealing to consumers hesitant to fully transition to electric vehicles.
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