China is Leading the EV world with Most Sold EVs in the first half of 2022

The first great news is that over an estimated 4.2 million electric vehicles have been sold in the first quarter of 2022 and the second best news is that China is leading the EV world.

It is true that most of the EVs sold are manufactured in China with a huge number of sales in the country counting 2.4 billion electric-powered vehicles.

It is a 63% growth over the same period last year for EVs being sold in the battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) together.

With new launches of EV models by various companies, Tesla delivered over 200,000 vehicles in Mainland China.

Jason Low, an analyst at Canalys shared more insights saying:

"With this momentum and strong consumer demand, EV sales should top 5 million by the end of 2022 in the country,".

With this rapid speed evolution of EVs, the supply is still not improved despite many companies competing in the EV section people have to wait for months before getting an EV delivered.

The company with the fastest delivery time and long-battery life could cash this EV opportunity and make the world carbon-neutral too.