Two in Three Cars Sold in China Last Month Were Electric
Plug-in cars, including both plug-in hybrids and fully electric vehicles, accounted for two in three new passenger vehicles sold in China in September, according to industry data. Read more on E360 →
In September, plug-in cars, encompassing both plug-in hybrids and fully electric vehicles, comprised two-thirds of all new passenger vehicles sold in China, as reported by industry data. Despite a year-on-year decline in Chinese car sales, the downturn has been significantly steeper for traditional vehicles compared to electric vehicles, according to the China Automobile Dealers Association.
Plug-in cars represented approximately half of all new sales by the end of last year, and their market share has been growing since the Iran war sparked a surge in fuel prices. Erica Downs, an energy policy researcher at Columbia University, noted that the conflict is bolstering China's transition towards electric road transport.
This shift has assisted China in reducing oil imports following the crisis, as per an analysis from the Brookings Institution. Energy think tank Ember discovered that during the initial six months of the war, China's electric vehicle fleet enabled the country to save an estimated $14 billion on oil imports. Euan Graham, a senior energy analyst at Ember, stated that nations that had invested in electric vehicles prior to the crisis are now more secure and numerous countries are following suit.
He added, "Every electric car on the road diminishes exposure to fluctuating oil markets, and as fleets expand, so does the protection against future supply shocks."
Written by urgent.news from Yale Environment 360's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
