China's dominance in the global electric vehicle (EV) market has become increasingly pronounced, with its share reaching a remarkable 76% in October, reflecting strong domestic demand amidst rising western tariffs that threaten its exports.
Between January and October, EV sales in China reached 14.1 million units, with 69% of those sales occurring domestically. This shows that the majority of global demand for EVs is met within China itself.
Despite tariffs from the US and EU that complicate exports, the Chinese government has significantly subsidized EV purchases domestically, increasing the subsidy amount to support the growth of its EV industry.
The Chinese electric vehicle sector has been identified as a strategic priority by Beijing for the country's economic development and green transition, indicating its importance in the broader national agenda.
Collection
[
|
...
]