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Chinese EV Purchasers Prefer Local Brands

PCA recently raised its 2022 forecast for NEV sales to 6 million—twice last year’s total.

The shift comes as China’s car market nears a tipping point at which the switch to EVs builds consumer acceptance and supercharges growth. More than 25% of new cars sold in July were new energy vehicles (NEVs), which include plug-in hybrids and pure battery-electric cars, up from fewer than one in six just a year earlier.

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