Article
China's 70% EV Target Deals Another Blow To Oil Demand
China's 70% EV Target Deals Another Blow To Oil Demand
Authored by Tsvetana Paraskova via OilPrice.com,
China aims to have electric and hybrid vehicles account for as much as 70% of all passenger car sales by 2030, in a massive transport shift set to further dent oil demand for road fuels.
As of the end of last year, the share of the so-called new energy vehicles was 54% of all passenger vehicle sales.
In the new five-year plan for the automotive industry compiled by nearly a dozen Chinese government agencies, China also targets...
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