Tracking U.S. trade deals before Trump’s tariffs take effect
With just one day left until Donald Trump’s 1 August tariff deadline, the U.S. has announced trade deals with several countries, but many remain inc...
China's new energy vehicle (NEV) market saw impressive growth in February, with sales hitting 686,000 units. This increase highlights the country's strong push toward electrification, driven by government incentives, improved infrastructure, and growing consumer demand.
China's new energy vehicle (NEV) market continues its rapid expansion, with sales reaching 686,000 units in February, marking a significant year-on-year increase. This surge reflects the country's strong push toward electrification, bolstered by government incentives, improving infrastructure, and increasing consumer acceptance.
New energy vehicles (NEVs) encompass a broader category of electrified vehicles compared to pure electric vehicles (EVs). NEVs include battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles (FCEVs), whereas EVs specifically refer to BEVs that operate solely on electric power without an internal combustion engine. The differentiation is critical as it highlights the diverse technological pathways contributing to China's green transportation shift. While EVs have dominated the NEV segment, PHEVs are gaining traction, offering consumers flexibility with their dual powertrain systems.
China's NEV market is experiencing dynamic growth, with a nuanced balance between EVs and other NEV categories. Battery electric vehicles (BEVs) remain the dominant force in the NEV segment, accounting for approximately 75% of total NEV sales in February. Plug-in hybrid electric vehicles (PHEVs) have seen a steady rise, constituting around 23% of NEV sales, driven by consumers who value extended range without reliance on charging infrastructure. Fuel cell vehicles (FCEVs) remain a niche market, with limited adoption due to high costs and infrastructure constraints.
Urban consumers prefer BEVs due to their zero emissions, lower operating costs, and government incentives such as purchase subsidies and registration benefits. PHEVs appeal to consumers in suburban and rural areas where charging infrastructure is less developed, offering the security of a backup gasoline engine. FCEVs are primarily targeted at commercial applications, particularly in logistics and public transport, where hydrogen refueling stations are more strategically located.
Government policies continue to favor BEV adoption with aggressive charging infrastructure expansion and subsidies. PHEVs benefit from relaxed restrictions in regions with slower charging network deployment. Hydrogen fuel cell technology is receiving targeted investments, though its growth remains slow compared to EVs and PHEVs.
With China leading the global shift towards electrified transportation, the NEV sector is expected to sustain its momentum. The government’s commitment to achieving carbon neutrality by 2060 and ongoing investments in battery technology, charging networks, and hydrogen infrastructure will shape the market's trajectory. As NEV sales continue to rise, competition among automakers will intensify, driving innovation and affordability in the sector. While EVs are likely to remain the frontrunners, the role of PHEVs and FCEVs will be instrumental in complementing China's comprehensive electrification strategy.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
The World Bank has announced that Tajikistan's medium-term outlook remains favourable, with growth projected to moderate to 7% in 2025 and converge toward a growth rate of 4.5% in 2026 and 5% in 2027.
Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Microsoft is reportedly in advanced negotiations to revise its agreement with OpenAI, aiming to maintain access to the startup’s cutting-edge AI technology even if OpenAI achieves artificial general intelligence (AGI), according to Bloomberg News, which cited sources familiar with the matter.
Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment