Part 2/9:
The substantial 20% global growth in EV sales primarily stems from China, where there was a 30% increase in sales, again including plug-in hybrids. A noteworthy statistic is that around 60% of the EVs sold by BYD in this market were hybrids. This trend raises questions about whether the anticipated demand for fully electric vehicles is materializing, as many traditional car buyers remain hesitant towards adopting pure EVs.
In the United States, although EV sales grew by an apparent 10%, this figure is also buoyed by the increasing popularity of plug-in hybrids, which jumped by 28% year-on-year. The positive statistics might be masking a larger problem within the EV sector: consumer interest is not matching industry expectations.