Part 6/7:
As this trend evolves, it raises vital questions about the future of traditional automakers. In February, electric car sales represented about 60% of all car sales in China, signaling a robust appetite for cleaner, more efficient vehicles. Meanwhile, sales of certain legacy brands are faltering, as evidenced by a reported 50% drop in sales – a clear indication that the market is indeed shifting. The growth of companies that support the electric vehicle surge, such as BYD, which reported a global growth of 177% in sales outside China, reflects a broader sea change in consumer preferences.