China Drives Global Electric Vehicle Sales to New Heights

Global electric vehicle sales soared by 32% in November, with China leading the growth. While sales in Europe declined slightly, demand surged in the U.S. and Canada. The market is experiencing significant changes as China’s production capabilities challenge other regions, amid rising costs and regulatory challenges.

Global sales of electric vehicles increased by 32% in November, marking the seventh consecutive month of growth, according to data from Rho Motion. China spearheaded this surge, accounting for nearly 70% of total electric vehicle sales, although Europe noted a slight dip, signaling tough market conditions.

The transformation in the electric vehicle market is swift, largely driven by China's expanding production and demand. European manufacturers are grappling with high production costs, compliance with new emissions targets, and intensifying global competition. Industry leaders from Europe and America raise concerns over trade tensions and regulatory changes affecting the market.

Statistics reveal that EV sales, including both fully electric and plug-in hybrids, reached 1.83 million globally in November. In China, sales surged by 50%, achieving 1.27 million units. Meanwhile, in North America, there was a 16.8% increase, reaching 0.17 million, while Europe reported a minor year-on-year decrease but a 7.7% increase from October.

(With inputs from agencies.)