Part 5/9:
Key markets are expected to drive this growth, with China forecasting an estimated 12.9 to 15 million EV sales in 2025. This is particularly noteworthy given that half of all car sales in China were EVs or plug-in hybrids during the first half of a recent year. By comparison, the U.S. market is expected to record around 2.1 million EV sales, along with 3.5 million in Europe and the United Kingdom.
Reports highlight the competitive landscape of the EV market, particularly with Chinese companies expanding their production capabilities internationally. Regions like Brazil, Mexico, India, and Southeast Asia will also play significant roles in the global automotive market, especially as Chinese manufacturers introduce affordable EVs worldwide.