China's transportation transformation - BNP Paribas Asset Management

In an era where more people are recognising the need to lead climate-friendly, environmentally positive lives, electric vehicles (EV) are being adopted rapidly.

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... There are now 12 million passenger EVs on the road worldwide, one million commercial EVs and over 260 million electric two and three-wheelers, write Ulrik Fugmann and Edward Lees of the BNP Paribas Asset Management Environmental Strategies Group.  

The shift to EVs is accelerating thanks to a number of factors: 
  • Government support.
  • Technological improvements.
  • Falling battery costs.
  • More charging infrastructure.
  • Commitments from carmakers.
In fact, BloombergNEF predicts passenger EV sales should reach 14 million by 20251 before accelerating even faster in the rest of the decade.

Reference
1 BloombergNEF, Electric Vehicle Outlook 2021

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