According to the forecast released on Tuesday, global electric car sales are projected to reach 17 million this year, up from 14 million in 2023, with electric vehicles accounting for over one-fifth of all car sales worldwide.
This surge is expected to reduce oil demand for road transport. China is anticipated to lead the way with the sale of 10 million electric vehicles.
"Tight margins, volatile battery metal prices, high inflation, and the phaseout of purchase incentives in some countries have sparked concerns about the industry's pace of growth,
This story is from the April 24, 2024 edition of The Business Guardian.
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This story is from the April 24, 2024 edition of The Business Guardian.
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