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The Electric Car Revolution in China: A Rapid Shift
The automotive industry is witnessing an unprecedented shift, particularly in China, where electric vehicle (EV) sales are experiencing explosive growth. February 2023 alone saw electric car sales in China surge by nearly 100%, and the momentum appears to be carrying into March, with projections indicating over 116% growth in new energy vehicle (NEV) sales, which encompasses both fully electric and plug-in hybrid cars. This trend underscores a significant public perception shift: many consumers are choosing electric cars over hybrids, believing that if they can afford an electric vehicle, there’s little reason to opt for a plug-in hybrid or traditional internal combustion engine (ICE) vehicle.