Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Freedom Bunker
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

China Is Winning Big On Smaller EVs

% of readers think this story is Fact. Add your two cents.


China Is Winning Big On Smaller EVs

Smaller is better…at least in the world of building EVs for the Asian market.

And while less scrupulous publications might take this opportunity to make stereotypical jokes about height, we’ll do no such thing and instead will simply report that according to the IEA’s Global Electric Vehicle Outlook 2024, released Tuesday, China dominated the EV market in 2023.

In fact, it made up 60% of global sales, according to a new report from Reuters. The report forecasts that by 2030, electric vehicles will represent one-third of all cars in China.

The latest IEA report highlights China’s increasing dominance in the global electric vehicle market, particularly across Asia’s burgeoning economies. China is capitalizing on its extensive industrial capabilities to expand its EV influence, promoting more affordable electric vehicles in nations like Thailand, Vietnam, and Indonesia, the report says.

The key to China’s success has been managing cost, the IEA report notes: “In China, we estimate that more than 60% of electric cars sold in 2023 were already cheaper than their average combustion engine equivalent.”

It continued: ”However, electric cars remain 10% to 50% more expensive than combustion engine equivalents in Europe and the United States, depending on the country and car segment.”

“In 2023, 55% to 95% of the electric car sales across major emerging and developing economies were large models that are unaffordable for the average consumer, hindering mass-market uptake,” the IEA report continued, according to Reuters.

“However, smaller and much more affordable models launched in 2022 and 2023 have quickly become bestsellers, especially those by Chinese car makers expanding overseas.”

The report emphasizes China’s growing edge due to making affordable EVs, which is proving successful across Asia.

European and U.S. automakers, by contrast, target wealthier customers with costlier, luxury EV models.

In Asia, countries like Thailand, Vietnam, and Indonesia are rapidly adopting EVs, supported by favorable policies and incentives, enhancing the market share of Chinese manufacturers.

In 2023, EV sales soared in these regions despite broader market contractions. Additionally, China faces its challenges, including potential EU tariffs and an oversupply in its EV market. The IEA report suggests that for widespread EV adoption, European and U.S. manufacturers need to focus on lowering costs and improving infrastructure.

You can read the IEA’s full report here

Tyler Durden Wed, 04/24/2024 – 20:30

Read More…


Source: https://freedombunker.com/2024/04/24/china-is-winning-big-on-smaller-evs/


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Humic & Fulvic Liquid Trace Mineral Complex

HerbAnomic’s Humic and Fulvic Liquid Trace Mineral Complex is a revolutionary New Humic and Fulvic Acid Complex designed to support your body at the cellular level. Our product has been thoroughly tested by an ISO/IEC Certified Lab for toxins and Heavy metals as well as for trace mineral content. We KNOW we have NO lead, arsenic, mercury, aluminum etc. in our Formula. This Humic & Fulvic Liquid Trace Mineral complex has high trace levels of naturally occurring Humic and Fulvic Acids as well as high trace levels of Zinc, Iron, Magnesium, Molybdenum, Potassium and more. There is a wide range of up to 70 trace minerals which occur naturally in our Complex at varying levels. We Choose to list the 8 substances which occur in higher trace levels on our supplement panel. We don’t claim a high number of minerals as other Humic and Fulvic Supplements do and leave you to guess which elements you’ll be getting. Order Your Humic Fulvic for Your Family by Clicking on this Link , or the Banner Below.



Our Formula is an exceptional value compared to other Humic Fulvic Minerals because...


It’s OXYGENATED

It Always Tests at 9.5+ pH

Preservative and Chemical Free

Allergen Free

Comes From a Pure, Unpolluted, Organic Source

Is an Excellent Source for Trace Minerals

Is From Whole, Prehisoric Plant Based Origin Material With Ionic Minerals and Constituents

Highly Conductive/Full of Extra Electrons

Is a Full Spectrum Complex


Our Humic and Fulvic Liquid Trace Mineral Complex has Minerals, Amino Acids, Poly Electrolytes, Phytochemicals, Polyphenols, Bioflavonoids and Trace Vitamins included with the Humic and Fulvic Acid. Our Source material is high in these constituents, where other manufacturers use inferior materials.


Try Our Humic and Fulvic Liquid Trace Mineral Complex today. Order Yours Today by Following This Link.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.