How to Win the War Against Saudi Oil? The $5,000 EV!
Share
|
Getting your Trinity Audio player ready...
|
As China’s electric vehicle (EV) market continues to boom, the nation is posing an existential threat to Saudi Arabia and OPEC.
Sales of plug-in electric vehicles reached 32% of the Chinese market for standard passenger cars in February, while diesel and petrol car sales dropped 20% YoY.
The nation’s best-selling EV, the BYD Song Plus, retails at around $27,000, while the Wuling Mini starts at around $5,000.
This takes the consensus forecast for EV market penetration from 40% by 2030 to as much as 80% by 2030, said Kingsmill Bond from energy strategists RMI.
Read more on Yahoo Finance
RELATED TOPICS:
Categories
Latest
Videos
Politics /
8 hours ago
Arizona Governor Vetoes Bill to Ban Teaching Antisemitism in Arizona’s Public Schools
Politics /
8 hours ago
US Rep. LaMonica McIver Indicted on Federal Charges From Skirmish at New Jersey Immigration Center
Politics /
9 hours ago
US Military Bases to Restore Names Changed After Racial Justice Protests, Trump Says
Latest /
10 hours ago
An Unknowing Fresno County Gave Community Medical $2.7M While Hospital Engaged in Kickback Scheme
Economy /
12 hours ago
Wall Street Ends Higher as Investors Track Progress of US-China Trade Talks
World /
12 hours ago
