📊 China's Passenger EV Sales Surged by 29% YoY, Defying Subsidy Cuts
China's passenger electric vehicle (EV) market defied expectations by achieving robust growth of 29% year-over-year, according to Counterpoint, despite the discontinuation of China's New Energy Vehicle (NEV) purchase subsidy.
Battery EVs (BEVs) dominated the market, accounting for nearly 70% of total sales, while plug-in hybrid EVs (PHEVs) experienced an impressive surge of 88% in popularity.
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