China: The undisputed leader of the global EV market

Over the past decade, China has become the leading market for electric cars, thanks to supportive government policies. The country's administration played a critical role in fostering the growth of new energy vehicles. With a strong commitment to promoting EV adoption, China aims to have a significant market share for EVs by 2030. The rise in global EV sales and advancements in technology have also contributed to lower manufacturing costs for electric vehicles, making them more competitive with traditional gasoline-powered cars.