Beijing’s success is breathtaking. EVs accounted for a quarter of all passenger cars sold in China last year, far ahead of the roughly one in seven in the US and one in eight in Europe. And the pace is accelerating. HSBC expects the EV penetration rate in the world’s second-largest economy to reach 90% by 2030.
(Bloomberg) In the race to reduce carbon emissions, countries from the US to New Zealand are doling out incentives to spur electric-vehicle sales — tactics China used for years as it turned into the biggest EV market on Earth. Most Read from BloombergMassive US Oil Caverns Sit Empty and Will Take Years to RefillDollar’s Busted Bull Run Has Bears Calling End of an EraSingapore House Speaker Resigns in New Blow to Ruling PartyRussia Pulls the Plug on Ukraine Grain Export DealRussia Derails Dano
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