Top Stories

China’s top EV car makers predict new energy vehicles will dominate


Traffic jams on the main roads of Shanghai, China, on Oct. 9, 2020.

Costfoto | Barcroft Media | Getty Images

BEIJING — New energy vehicles will dominate the world’s largest auto market in about ten years, two executives from major Chinese electric car companies predicted over the weekend.

New energy vehicles refer to battery-powered and hybrid cars. The category accounted for more than 10% of new car sales in China in March, and grew to 11.4% in May, said Wang Chuanfu, founder of BYD.

He forecast that the penetration rate would surge to more than 70% in 2030. That’s according to a transcript the company provided of his remarks at the China Auto Chongqing Summit held June 12 and 13.



Stock futures are up after Nasdaq and S&P 500 set records, Fed meeting ahead

Previous article

Rocket Lab wins NASA contract for Mars ESCAPADE spacecraft

Next article

You may also like

Leave a Reply

Notify of

More in Top Stories