EV sales hit record high

Electric vehicle, EV, sales jumped to a record high in the third quarter of 2017 due to China’s increased demand. Sales of EVs and plug-in hybrids exceeded 287,000 units in the three months ended in September, a huge 63 per cent higher than the same quarter last year, according to a report released by Bloomberg New Energy Finance, BNEF. China is the top market for EVs, making up roughly half of global sales in this quarter. Europe and North America were the second and third biggest markets, respectively. It’s no surprise that China’s number one due to their current incentives to help increase the number of low-emission cars on the road. BNEF forecasts that international electric vehicle sales to exceed one million units in 2017. The market for electrified transport is starting to increase as charging infrastructure becomes more accessible. “The Chinese government is very focused on pushing up EV sales,” advanced transport analyst at BNEF, Aleksandra O’Donovan said. “One reason for that is the local pollution levels in the cities, and a second is for China to build domestic heroes to compete internationally in this market,” O’Donovan added. “The national subsidies can make EVs up to 40 percent cheaper than regular internal combustion cars,” O’Donovan noted. Automakers including Volkswagen Group, Daimler, Jaguar Land Rover and Volvo have recently announced plans to expand their line-ups to include EV models to meet growing demand.