China New Breakthrough and Policy Puts China 10 Years Ahead of The US In The EV Industry
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China Set To kick out Apple, NVIDIA
There’s no denying the extent to which China has rapidly outpaced many industrial domains, with the EV domain inclusive. The impressive quality of China’s growth becomes even more fascinating when compared to the United States. In the sphere of EV export, China has made her mark taking over 40% of the world’s market with an exponentially blossoming boost. This leaves the world wondering how China is going to manage to pull off this stunt. Well, keep reading to find out.
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China’s leading automaker BYD in a major EV auto show in Shanghai, China revealed their latest blockbuster with a stunning price of just USD 11,300, stimulating 11,000 orders within 24 hours of pre-sales opening. The push by China to dominate the EV market is also a big step to trim its reliance on massive petrochemical imports from Russia and the Persian Gulf.
In 2022, the Chinese EV export registered an extraordinary 131% year-on-year increase, consequently hitting a value of $20.9 billion. This is another scheme used by China to outpace EV automakers and achieve their aim of becoming the world’s top automobile exporters. This has led China to have 78% of the world’s fastest public chargers in the world, with Beijing topping the entire United States.
China New Breakthrough and Policy Puts China 10 Years Ahead of The US In The EV Industry
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