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PHEVs popular in China China’s EV boom continued in 2022 with the powertrain’s share hitting 26.7% The government set a target for new energy vehicles (NEVs) sales, including battery-electric vehicles (BEVs), plug-in hybrids (PHEVs) and fuel-cell electric vehicles. The market’s swing towards PHEVs, from 18.3% up from 13.9%
The global EV share forecast has been upgraded to 20.4%, accounting for battery-electric vehicles and plug-in hybrids (PHEVs). Assuming normal scrappage rates, EV Volumes forecasts it will take until 2042 for half the global fleet to be electric. The country has seen an uptick in PHEV sales over the last few years.
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