Business|Finance|Jun 9
Electric vehicle giant BYD predicts 80% of China car sales will soon be electric
At a time when electric vehicle sales growth in China has been slowing, BYD expects the country's EV market to expand — quite in contrast to smaller rival Nio that recently said the industry's "golden era" was over. electric car penetration rate remains at just around 10%, while that figure is roughly 25% globally, the International Energy Agency said last month. Sales of gas-powered cars in China plunged by 39% in May from a year ago, the CPCA said Monday, citing the impact of higher oil prices amid ongoing hostilities in the Middle East.
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