Dear MEL Topic Readers,
The world's largest automaker is putting big money into electric vehicles in China.
China is the world largest market for new car sales, approaching the 30-million mark for annual sales. It is also the biggest electric car market, which accounts for approximately as many electric vehicle sales as all other countries combined. And the government is determinedly pushing electrification of the vehicle market to improve air quality, reduce greenhouse gas emission, and become the leader in the industry. They are heavily incentivizing electric or clean energy vehicles by tax reduction to buyers and penalty to car manufacturers. Also, they are stimulating domestic production rather than import by posing import duties. No wonder why major automakers are all announcing huge investments in electric vehicle and battery factories in China as well as partnering up with local players at an unprecedented pace.
Enjoy reading and thinking when you will get your first fully-electric, not electrified, vehicle.
(Check the video to learn the difference between electric and electrified cars in the video)
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