Electric vehicle sales in China are projected to exceed traditional vehicle sales for the first time, with over 12 million EVs expected to sell in 2025.
The projections signal a key turning point in the world's largest car market, highlighting a faster transition to clean energy vehicles in China compared to the West.
China’s EV growth is spurred by government subsidies and a competitive market, making EVs more affordable and attractive to consumers amid economic pressures.
Domestic manufacturers like BYD are adopting aggressive price-cutting strategies, including discounts that bring the cost of EVs like the Seagull below $10,000.
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