Worldwide Electric Vehicle Sales Surge, Mostly Thanks to China
The biggest car market in the world has, for some time, been China—and that applies to electric vehicles even more than with conventional gas vehicles, thanks to the country’s federal electric-car programs. This is reflected in the meteoric rise of electric vehicle sales in the year’s third quarter thanks to strong Chinese demand.
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In total, battery-electric and plug-in hybrid vehicles made 287,000 sales worldwide in the three months ending in September—that’s 63% more than the same period last year, and even 23% more than last quarter. Over half of those sales came from the Chinese market.
This is completely in line with China’s policies lately, the most recent of which include a deadline for the country’s automakers to reach certain electric or plug-in hybrid sales quotas, eventually leading to the eventual complete end of petroleum-powered vehicles.
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According to a Bloomberg New Energy Finance study, global EV sales could pass a million units this year for the first time, as electric charging infrastructure has spread and manufacturers have rolled out more and more electrified models. This isn’t to mention rising national subsidies, which in certain circumstances can make EVs far cheaper than normal internal combustion cars.
The Chinese market was followed in electric sales by Europe, which generated 24% of the total sales, with North America pulling in a more distant third place.
News Source: Bloomberg