China EV Sales Reach One-Third Mark, With Global Effects

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Electric vehicle (EV) market share in China has crossed a new milestone of over 33% to account for one-third of national auto sales in the single month of November, marking a jump of more than five percentage points from a month ago and a surge of nearly 16 percentage points from 12 months ago. The swiftness with which EVs are gaining ground against ICEs in China sends a clear signal that EVs have fully transitioned from niche to mainstream consumer acceptance, portending a serious threat to transport oil demand.

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