July witnessed a huge leap forward in the electric vehicle industry, with China’s strong performance. According to the report published by Rho Motion, sales of electric and plug-in hybrid vehicles in China are at full growth compared to the previous year. 31 percent increased by . It achieved a 21 percent increase globally. That means two out of every three electric vehicles sold worldwide were sold in China. Here are the details…
China surged in electric vehicle sales in July: Pains began to increase in the European market
880 thousand electric vehicles were sold in China in July. This figure once again showed not only China’s power in the electric vehicle market, but also its importance in the global market. Plug-in hybrid vehicle (PHEV) sales in China in the first seven months of the year compared to last year 70 percent increased by . These figures show that China will continue to lead the electric vehicle revolution.
On the other hand, things are not going so well in the European market. Electric vehicle sales in Europe in July fell by 7.8 percent. This decline became even more pronounced in large markets such as Germany. However, the European Union’s plan to impose temporary customs duties on electric vehicles imported from China may further increase the pressure on the market.
Chinese brands in particular may be affected by these taxes. However, Tesla Brands such as are able to avoid this situation thanks to their production facilities in Europe. will be less affected It looks like. The Tesla factory in Berlin could help the brand maintain its market share in Europe. On the other hand, China’s giant name BYD Since European operations are still small-scale, they are expected to be less affected by these tariffs.
In North America (USA and Canada) the situation is a little more positive. Electric vehicle sales in July increased by 7.1 percent. This rate revealed that electric vehicle acceptance in the region continues to increase and the market has growth potential.
While China continues its leadership in the electric vehicle market, the European market tariffs and reduced sales He is going through painful days because of this. In other words, these figures showed that the balances in the global electric vehicle market have changed and each region faces different challenges.
What do you think? Will this rise of China and the decline of Europe bring benefits or harm in the long run? You can write your opinions in the comments section below.
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