(WSJ) New-energy passenger vehicles that include plug-ins boomed in 2021, with sales in the first eleven months of the year almost three-fold from last year.
New-energy vehicle sales for November are now approaching a fifth of the total for passenger sale volumes, a major increase compared to only 6.2% for 2020.
China’s uptake of EVs happens amid a rise in related infrastructure, with the country’s charging points having doubled in about two years to at least one million this year.
The acceleration of electric vehicle uptake in China happens amid a slump in the car markets this year.
China seeks to encourage more energy vehicles sales with a new credit trading system, as the country ends previous incentives through subsidies.
With the growing list of Chinese EV makers in China, the automakers are now eyeing global expansion, with startups like BYD and NIO seeking to make inroads into Europe.
TSLA is down -1.78%, 002594 is down -3.04%, NIO is down -2.97%.
