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<header><h1>US, Europe struggle to keep up with China’s EV growth</h1><a href="" rel="author"></a><span class="title"></span><time rel="pubdate" datetime="2024-03-13T00:00:00-04:00">Mar 13</time></header><p><span data-contrast="none">Nearly two-thirds of all forecasted electric vehicle (EV) sales this year will likely be in China, according to </span><a href="https://www.rystadenergy.com/news/china-ev-driving-seat-us-and-eu-struggle-to-keep-up" target="_blank" rel="noopener"><span data-contrast="none">recent projections</span></a><span data-contrast="none"> from Oslo-based consultancy Rystad Energy. </span><span data-ccp-props="{}"> </span></p><p><span data-contrast="none">Of the 17.5 million new EV sales globally, 11.5 million of them (about 66%) will be in China.</span><span data-ccp-props="{}"> </span></p><p><span data-contrast="none">EV’s are just one area in cleantech that China dominates, including </span><a href="https://ciphernews.com/articles/china-dominates-solar-power-supply-chain/" target="_blank" rel="noopener"><span data-contrast="none">solar panels</span><span data-contrast="none">.</span></a><span data-contrast="none"> Like solar panels, China’s EV dominance doesn’t stop at its borders.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335559738":0,"335559739":0,"335559740":259}"> </span></p><p><span data-contrast="none">“Riding last year’s momentum, Chinese automakers are aggressively expanding into emerging markets, overshadowing established players,” said Abhishek Murali, senior energy systems analyst at Rystad Energy. “This eastward shift is particularly evident in Europe, where a stagnant EV market finds hope in the arrival of budget-friendly Chinese brands.”</span><span data-ccp-props="{}"> </span></p><p><span data-contrast="none">EV sales are still growing in Europe and the United States, but from far lower bases and at slower rates compared to China, Rystad found.</span><span data-ccp-props="{}"> </span></p><p><span data-contrast="none">The Biden administration has taken steps toward restricting Chinese-made EVs in the U.S. market due to concerns over security, </span><a href="https://www.nytimes.com/2024/02/29/us/politics/biden-chinese-electric-vehicles.html#:~:text=At%20Mr.%20Biden%E2%80%99s%20direction%2C%20the%20Commerce%20Department%20has,threat%20from%20technology%20embedded%20in%20Chinese%20electric%20vehicles." target="_blank" rel="noopener"><span data-contrast="none">The New York Times reported</span></a><span data-contrast="none"> last month.</span><span data-ccp-props="{}"> </span></p>
US, Europe struggle to keep up with China’s EV growth
by -
March 13, 2024
Nearly two-thirds of all forecasted electric vehicle (EV) sales this year will likely be in China, according to recent projections from Oslo-based consultancy Rystad Energy. Of the 17.5 million new EV sales globally, 11.5 million of them (about 66%) will be in China. EV’s are just one area in cleantech that China dominates, including solar panels. Like solar panels, China’s EV dominance doesn’t stop at its borders. “Riding last year’s momentum, Chinese automakers are aggressively expanding into emerging markets, overshadowing established players,” said Abhishek Murali, senior energy systems analyst at Rystad Energy. “This eastward shift is particularly evident in Europe, where a stagnant EV market finds hope in the arrival of budget-friendly Chinese brands.” EV sales are still growing in Europe and the United States, but from far lower bases and at slower rates compared to China, Rystad found. The Biden administration has taken steps toward restricting Chinese-made EVs in the U.S. market due to concerns over security, The New York Times reported last month.