China’s electric car sales slump, squeezing automakers 0 SHARES Share it! China accounts for half of electric vehicle sales worldwide, making any change in its market critical for the global industry. In China, about 70% of the 1.2 million electric or gasoline-electric hybrid models sold over the past year went to government and company fleets, according to Bernstein. “I also worry that when an electric car has a problem, it will cost me a fortune to repair,” said Yang. Battery supplier CATL Ltd. is competing with Japan’s Panasonic and South Korea’s LG Chem to be the industry’s biggest global producer.

Source: Manila Bulletin December 10, 2019 11:26 UTC