Takeaways

• In China, year-to-date figures for the first quarter of 2024 show a 28.2% and 31.8% rise in production and sales of NEVs, totalling approximately 2 million units.
• Recent government initiatives in China are likely to accelerate the shift from ICE vehicles to EVs with a significant boost in EV demand in China this year.
• With a growing selection of new EV models and enhancements in range, charging speeds, and infrastructure, the phase-out of ICE vehicles in China is expected to speed up.
  
• Chinese electric cars have...