Analysis-China s Oil Majors Face Uphill Climb to Adapt to EV Future usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
EV sales in the world s largest auto market are expected to account for 40% of the 23 million cars sold this year. China s gasoline demand is predicted to peak by 2025 and could halve by 2045, making a strategic shift an imperative for its biggest oil refiners and marketers, Sinopec and PetroChina.
Tucked away on a side road in suburban Beijing, the Xiaowuji battery charging station opened by Sinopec in December 2023 offers a glimpse of China's post-gasoline future. EV sales in the world's largest auto market are expected to account for 40% of the 23 million cars sold this year. China's gasoline demand is predicted to peak by 2025 and could halve by 2045, making a strategic shift an imperative for its biggest oil refiners and marketers, Sinopec and PetroChina.
Tucked away on a side road
in suburban Beijing, the Xiaowuji battery charging station
opened by Sinopec in December 2023 offers a glimpse
of China s post-gasoline future. Boasting 70.
Editor's Note: Amid challenges including geopolitical tensions and the tightening policies by major central banks, the focus has been on how the two sessions－the annual sittings of China's national legislature and top political advisory body－map out this year's policy agenda to navigate the world's second-largest economy through headwinds and further open up its vast market to the rest of the world. China Daily spoke with multinational executives about their takes on the two sessions, expectations for China's high-quality development and new opportunities they are seeking in the country.