EVs now 9% of China’s car fleet
We hear a lot about new sales penetration of electric vehicles. China’s EV new vehicle penetration was 45.8% in September, and that was up from 33% in January – that’s quite a move. But it kind of only tells a small part of the story. Because it doesn’t really tell us how many EVs are on China’s roads vs ICEs. And one needs to understand that to understand what the impact will be on gasoline demand for transportation. China has contributed 41% to global oil consumption growth over the past 30 years according to the Statistical Review of World Energy....
Topics
Car Fleet
China
EVs
Oil
Penetration
