China’s rapid adoption of new energy vehicles is helping to accelerate the global energy transition.
Every summer is a reminder of the urgency of climate change. Last July, the global average temperature rose to a record high. This summer, floods, hurricanes, and extreme high temperatures again ring warning bells about the most imminent and grave threat to humanity. Accordingly, the most effective way to limit global warming should be a top priority for the global agenda. And from that imperative, we can celebrate the progress of the new energy vehicles industry, especially the new milestone China recently hit — an EV adoption rate of more than 35 percent.
To transition away from fossil fuels, as announced and reaffirmed last year at COP28 in Dubai, the world needs to use clean electricity as its major power source, and also electrify end uses. This means electrifying transportation.
The development of China’s EV industry
Transportation accounts for about 10 percent of China’s national carbon emissions. That number is decreasing with China’s growing use of EVs. China’s EV sales have experienced super-fast growth in the past decade, since its first climate commitment in 2009 in Copenhagen, and the country has become the world’s largest EV market. In 2023, China accounted for 63.5 percent of the world’s new energy vehicle sales. EVs took off around 2020, with a rapid growth in sales.
Read more: RMI
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