At the Shanghai Auto Show, dozens of new electric vehicle models were on display.
SHANGHAI: This year's Shanghai Auto Show signalled the end of the petrol engine era in China, as domestic electric vehicle brands drive change across the sector and leave foreign companies in the dust, analysts and industry insiders said.
According to the China Association of Automobile Manufacturers, electric vehicles made up a quarter of car sales in the country in 2022, a year-on-year increase of 94 per cent. "It's ingrained in the nature of the country's economic system: The Chinese government is very good at focusing resources on the industries it wants to grow," Zeyi Yang wrote in MIT Technology Review.
"In general, there are still a lot of preferential policies ... for the production and sale of electric vehicles," said Nio's Li, using as an example the waiving of expensive licence plate fees in some cities.
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