Electric Vehicles

Fitch Says EVs Will Grab 35% of 2023 China Car Sales – SCMP

 

Fitch Ratings says new-energy vehicles will continue to see strong growth next year as more motorists ditch petrol cars, with the rating agency forecasting that electric vehicles will account for 35% of car sales on the mainland next year, up from 27% this year and 15% in 2021, a report by the South China Morning Post says.

China’s auto market is accelerating its transition to EVs and consumers’ acceptance of new energy vehicles is increasing, which spurred Fitch researchers to predict that sales of petrol cars would drop sharply, while competition among new EV brands would generate “fierce competition” among carmakers, the report said.

Read the full report: The SCMP.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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