China’s NEV Market Surpasses 50% Penetration
China’s New Energy Vehicle (NEV) market has reached a historic milestone, with NEVs making up over 50% of all retail car sales for the first time in July 2024. According to the China Passenger Car Association (CPCA), NEVs accounted for 51.1% of total market share, equating to 870,000 units sold. This achievement follows a pattern…