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In 2023, China accounted for over 60% of global EV sales, reinforcing its status as the largest EV market by a wide margin. The transformation of the automotive sector has been dramatic. Once seen as a niche market, electric vehicles are set to comprise more than half of passenger car sales by 2024. This rapid uptake has been fueled by the Chinese government, which has implemented a suite of supportive measures, including generous subsidies, extensive charging infrastructure investments, and stringent emissions regulations that favor electric cars over traditional internal combustion engines.