Electric vehicle sales continue to rise globally, with China leading the charge. While uncertainty around subsidies in the U.S. looms, consumer interest in EVs remains strong.
Electric vehicles had another whirlwind year around the globe, driven by buyers in China, and growth in parts of Europe and the United States, despite headwinds. In a milestone for China, the world’s biggest auto market, EVs hit 50% of new car sales in July. That included pure battery EVs plus plug-in hybrid electric vehicles. Chinese companies such as BYD continue to gain traction worldwide with their inexpensive EVs. In the U.S.
, uncertainty around purchase subsidies could complicate matters come 2025, especially under the incoming Trump administration. But mainstream consumers remain interested in new models, longer driving ranges, better performance and lower prices. The global EV market, including pure EVs and plug-in hybrids, grew by 25% year-over-year as of November. Rho Motion estimates 15 million EVs were sold globally in 2024
ELECTRIC VEHICLES CHINA SUBSIDIES CONSUMER DEMAND CLIMATE CHANGE
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