Electric vehicles have seen significant growth globally in the past year, driven by strong demand in China, parts of Europe, and the United States. In China, EVs accounted for 50% of new car sales in July, a milestone for the world's largest auto market. Companies like BYD are gaining traction with their affordable EV models.
Europe and the U.S. also saw an increase in EV adoption, with consumers showing interest in new models offering longer driving ranges, better performance, and lower prices. Despite uncertainties around purchase subsidies, the transition to electric vehicles is crucial for reducing global emissions from road transport, which currently contribute to around one-sixth of all energy-related emissions.
