China Electric Vehicle Market: Industry Analysis and Forecast (2024-2030)

Manasi28 Jun, 2024Business

The China Electric Vehicle Market size was valued at USD 260.84 Million in 2023 and the total China Electric Vehicle revenue is expected to grow at a CAGR of 17.15 % from 2024 to 2030, reaching nearly USD 789.90 Million by 2030. An Electric Vehicle (EV) is a vehicle, drawing power from a battery and rechargeable externally. It includes all-electric vehicles and plug-in hybrid electric vehicles with both electric and internal combustion engine capabilities. China's electric vehicle market rapidly growing, establishing itself as the global leader in the industry. This rise is largely attributed to government support and policies aimed at reducing pollution and promoting sustainable transportation.

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