An Update on China’s EV Revolution
What’s in store for China’s EV markets in 2024?
Though China’s EV sales growth has slowed, the market for New Energy Vehicles is still growing by about 2 million per year, having reached a market share of around 40% of new passenger vehicles in December 2023. Looking forward, what can we say about how the NEV market is evolving? What about charging, emissions, and policies? In this new Oxford Institute for Energy Studies slide deck, Anders Hove summarizes and digests these and other issues, drawing on multiple public data sources as well as his own analysis.
While many industry observers are cautious on China’s EV market this year, given the government’s modest targets and efforts to tamp down on overcapacity in EV manufacturing, the revolution is still very much underway.