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The Unstoppable Rise of China's EV Market

In a striking revelation, HSBC has forecasted the dramatic future landscape of the automotive industry, indicating that the era of internal combustion engines (ICE) is nearing its end. The bank's analysts highlight that China's electric vehicle (EV) market is not only expanding rapidly but is also set to undermine the sales of traditional vehicle manufacturers, particularly those from Volkswagen, General Motors, and major Japanese automakers like Toyota and Honda.