China’s electric vehicle (EV) adoption rate has hit an all-time high, as the Iran war drives motorists to shift away from petrol cars despite a sluggish automotive market.
A record 65.2 per cent of the 1.54 million cars sold in mainland China last month were either pure electric or plug-in hybrid vehicles, data from the China Passenger Car Association (CPCA) showed.
The figure broke the previous record of 65.1 per cent set a month earlier.
“Consumers are convinced of EVs’ advantages now that range anxiety has been largely eased,” said Zhao Zhen, a sales director at Shanghai-based auto dealer Wan Zhuo Auto. “Higher penetration rates can be expected as more drivers shun petrol cars.”
The pivot to electric cars comes as overall vehicle sales in China slump amid an economic slowdown. Last month, petrol car sales plunged 40 per cent year on year, while EV deliveries fell by a more modest 10.1 per cent, according to CPCA data.
The Iran war appears to be accelerating the electrification shift, as rising fuel costs prompt more Chinese consumers to shun petrol vehicles.