Global EV sales jump 25% in 2024 as China leads and Europe stabilises

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Global EV sales jump 25% in 2024 as China leads and Europe stabilises - Business Standard

Quick Summary:

Meanwhile China, in a bid to promote EV adoption while reviving economic growth, extended last Wednesday the auto trade-in subsidies into 2025 as part of an expanded consumer trade-in scheme.

Rho Motion data manager Charles Lester, commenting on November data following European Union's introduction of tariffs at the end of October, told Reuters that there was "no clear downturn in sales" of major Chinese-made EV models.

An EU filing showed last week that automakers facing tougher CO2 emissions rules were planning to pool together and buy carbon credits from electric vehicle companies including Tesla and Polestar to avoid hefty fines.