In 2023, China, the world's largest car market, sold 25.8 million cars, compared to 15.4 million in the U.S. and 12.8 million in Europe. Significantly, over 51% of all cars sold in China were electric vehicles (EVs).
This marks a pivotal shift, and there’s no going back. The EU and U.S. must accelerate their actions to keep pace with this transition.
By 2030, expect a major decline in oil demand, driven by the rapid electrification of transport, the growth of renewable energy, and the decreasing costs of battery energy storage systems (BESS).
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Impressive!! This is a great achievement.
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This is a remarkable milestone for China's automotive industry! With over 51% of cars sold being electric, it highlights the nation's rapid transition to cleaner transport solutions. Such progress will significantly reduce oil demand, and it sets a global example for the U.S. and Europe to expedite their efforts toward decarbonizing transportation.
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Go go china, electric cars are the future.
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China has surely been making significant strides in dealing with the issue of climate change before the effects are irreversible.
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This is great.moving towards green energy is what we all should strive to achieve in the near future so as to bring about change.