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EV Makers Are Determined To Dethrone Tesla In China

EV sales in China surged in July. On Wednesday, the China Association of Automobile Manufacturers (CAAM) revealed that wholesale deliveries of new EVs that include battery-powered, plug-in hybrid and hydrogen fuel-cell cars rose 164% YoY last month. These 271,000 units imply that EVs made 10 percent of total auto sales in China from January to July.

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The EV Era Is Coming Sooner Than Expected

Internal combustion engine vehicles have already peaked. Meanwhile, electric vehicles are getting more affordable, and they are going farther. Electric vehicle adoption is accelerating thanks to improvements in battery density and cost, expansion of charging infrastructure, and government policies that make driving polluting cars more difficult.

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