China's EV sales soar 40 percent amid gasoline plunge

By Newsweek   |   1 week ago
China's EV sales soar 40 percent amid gasoline plunge

China's EV market broke records in 2024 with a 40% surge in sales, while gasoline vehicle sales dropped. Government incentives, advanced models, and changing consumer preferences drove this shift. Chinese automakers are challenging international rivals, expanding globally amid geopolitical tensions and tariffs.

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