China’s EV Uptake Is Years Ahead of Targets and Forecasts

For the first time ever, China’s electric vehicle sales are set to outpace traditional car sales on an annual basis in 2025, years in advance of the Chinese authorities’ targets and years ahead of analyst projections, according to the latest industry forecasts provided to the Financial Times by research companies and investment banks. China’s combined EV and plug-in hybrid sales are expected to jump by around 20% to over 12 million units next year, HSBC, UBS, Morningstar, and Wood Mackenzie have projected. Next year, the expected…