Electric Vehicles Surpass Gas Cars in China for the First Time
New energy vehicles, including EVs and hybrids, accounted for over half of all car sales in China in July, driven by government incentives and changing consumer preferences.
- Sales of new energy vehicles in China rose 37% year-over-year in July, reaching 50.7% of total car sales.
- China's investment in the EV industry has totaled over $230 billion since 2009, boosting domestic automakers.
- Government subsidies and incentives have doubled, encouraging consumers to trade in older gas cars for EVs.
- Chinese automakers, such as BYD and Li Auto, have set new sales records, while foreign automakers struggle.
- Vehicle exports from China increased by 20% as automakers expand into global markets despite new tariffs.
Fortune 
Associated Press 
CNBC 
Voice of America (VOA News) 
Electrek 