Hyperdrive
China Set to Dominate Electric Vehicle Battleground For Decades
- Asian giant to keep No. 1 spot in sales for 20 years: BNEF
- Tesla, VW, others expanding in China’s electric-car market
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China will be the main battleground for electric-car makers for the next two decades, seeing off advances by the U.S. and Europe, amid a government push toward greener vehicles, according to a new report by BloombergNEF.
Annual electric-car sales in the Asian country will reach 2 million units next year, after topping 1 million for the first time in 2018, according to the BNEF report released Wednesday. While China now accounts for more than half of global sales, other regions will start to catch up and its share will shrink to about 25% in 2040, the researcher said.