China, the world's largest car market, is setting its sights on a significant shift towards electric vehicles (EVs) as part of its ambitious climate goals. According to a recent announcement, the country aims to increase the share of electric vehicles in its total vehicle ownership to 30% by 2030. This target is a significant step up from the current EV penetration rate, which stands at around 10%. The move is seen as a crucial step towards China's goal of becoming carbon neutral by 2060, and it is expected to have far-reaching implications for the global automotive industry, with manufacturers and suppliers scrambling to meet the increased demand for EVs.
China aims to raise EV share of vehicle ownership to 30% by 2030 Reuters
