CNBC's Phil LeBeau reports on
China electric vehicle sales surging and Tesla planning to build a plant in the country.
Not exact matches
Nowhere is the climate fight more important than in
China, the world's largest spewer of greenhouse gases, which is in the midst of an unprecedented promotion of
electric cars: Last year,
sales of
electric and plug - in hybrid
vehicles in
China rose 50 % to 507,000, more than three times the U.S. figure.
High - end
electric vehicle maker Tesla Motors Inc (TSLA) said Monday it is cutting jobs in
China under a restructuring plan launched earlier this year, after missing a
sales target in the world's biggest car market.
China is preparing to announce the date from which internal combustion engine car
sales will be banned, joining Norway, France, and the UK, among others, that have declared a complete shift to
electric vehicles.
China is the world's biggest
electric vehicle market, with last year's
sales rising 53 percent over 2016 to 770,000
vehicles.
Samsung pursued a stake in BYD after its affiliate was among foreign battery makers left off a list of suppliers approved by
China, where
sales of
electric vehicles are surging and the government has sped up construction of charging points.
China's government wants
sales of
electric vehicles to exceed 3 million units a year by 2025, after surpassing the U.S. last year to become the global market leader.
China has already taken a series of measures to fight pollution, including restricting car
sales in major cities and providing incentives for selling
electric vehicles.
Audi is looking to the future in
China — and not just with its
sales: this week at the Beijing auto show, it pulled the wraps off of its newest plug - in hybrid
electric vehicle, the A6 L e-tron Concept.
Plug - in
electric vehicles sales surged to a record in the third quarter, largely driven by strong demand in
China, according to a new report from Bloomberg New Energy Finance (BNEF).
Volkswagen says it wants to be No. 1 in
electric -
vehicle sales in
China by 2018.
Three of
China's biggest cities are helping consumers pay for a range of
electric cars, heeding calls to encourage the
sale of green
vehicles that the government sees helping tackle pollution.
In 2016,
China more than doubled
sales of plug - in hybrids (PHEVs) and battery -
electric vehicles (BEVs) to more than 350,000 units.
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While growth in EV
sales in the United States continues on a steady but incremental path — roughly one - percent of the American
vehicle market —
sales of
electric cars and plug - in hybrids in
China is expected to leap from 700,000
vehicles in 2017 to more than 2 million «new energy
vehicles» by next year.
Plug - in
electric vehicles sales surged to a record in the third quarter, largely driven by strong demand in
China, according to a new report from Bloomberg New Energy Finance (BNEF).
China is now the world's largest market by far for new automobiles and trucks, and shortly will be the largest for
sales of
electric vehicles.
Faraday hopes to use the factory (shown here in a rendering) to build a range of fully
electric vehicles for
sale in the U.S. and
China.
Faraday hopes to use the factory to build a range of fully
electric vehicles for
sale in the U.S. and
China.
The move will help Tesla expand its presence in
China, where
electric vehicle sales growth has been the highest for the company.