logo
China and Europe power 24% growth in global EV sales in June

China and Europe power 24% growth in global EV sales in June

Global sales of electric and plug-in hybrid vehicles surged 24 per cent in June from a year earlier, driven by strong demand in China and Europe, while the US fell behind, according to the market research firm Rho Motion.
Advertisement
A total of 1.8 million battery-powered electric vehicles (BEVs) and plug-in hybrids were sold last month, the London-based firm said on Tuesday. Sales in China jumped 28 per cent to 1.11 million units, or 60 per cent of the worldwide total, while Europe's demand rose 23 per cent to 390,000 units, according to the report.
The US, the world's second-largest vehicle market after China, was the laggard, with sales in North America falling 9 per cent to just over 140,000 units, the data showed. Demand in the rest of the world surged 43 per cent to more than 140,000 vehicles, boosting the significance of the emerging markets of Southeast Asia and Central America, Rho Motion said.
In the first half of this year, 9.1 million electric vehicles (EVs) were sold globally, a 28 per cent increase from a year earlier. China led with 5.5 million units, followed by Europe with 2 million and North America with 900,000.
10:08
How Chinese companies have pulled ahead of Tesla in the electric vehicle race
How Chinese companies have pulled ahead of Tesla in the electric vehicle race
'[The] EV sales figures for the first half of 2025 show that China and Europe are steaming ahead in terms of the electric transition,' said Charles Lester, data manager at Rho Motion.
Advertisement
Lester said he expected subsidies in China to continue in the second half despite 'reports that some cities' subsidies have run out, prompting expectations of a slowdown in the Chinese market'.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump says not planning to fire US Fed chief Powell, after report prompts drop in stocks
Trump says not planning to fire US Fed chief Powell, after report prompts drop in stocks

South China Morning Post

timean hour ago

  • South China Morning Post

Trump says not planning to fire US Fed chief Powell, after report prompts drop in stocks

US President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, after a Bloomberg report that the president is likely to do so soon sparked a drop in stocks and the dollar, and a rise in Treasury yields. Such reports were not true, Trump said. 'I don't rule out anything, but I think it's highly unlikely unless he has to leave for fraud,' Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the US$2.5 billion renovation of the Fed's historic headquarters in Washington. Stocks pared losses and Treasury yields pared declines after Trump's comments, which also included a now familiar barrage of criticism against the Fed chair for not cutting interest rates, calling him a 'terrible' chair. Trump did talk to some Republican lawmakers about firing Powell, he said, but said he was more conservative about his approach to the question than they were. The president said 'almost every one of them' supported the idea of removing the central bank chief, but denied that he drafted and displayed a letter authorising Powell's firing. Two individuals familiar with the meeting said Trump did display such a document.

How easing of AI chip controls could reshape US-China trade talks
How easing of AI chip controls could reshape US-China trade talks

South China Morning Post

time3 hours ago

  • South China Morning Post

How easing of AI chip controls could reshape US-China trade talks

The United States' decision to ease export restrictions on certain advanced chips – part of a broader package of trade agreements with China – is seen by experts as an early sign that high-level negotiations have steered bilateral relations in the right direction. Washington's move to resume license application reviews for Nvidia's H20 AI and Advanced Micro Devices's MI308 AI chips comes ahead of talks between senior officials from both nations in the coming weeks, despite a protracted strategic stand-off over tech and export controls. Zhuang Bo, global macro strategist at Loomis Sayles Investment Asia, said the development was a clear win for China – effectively resetting the clock to March, before rare earths became a geopolitical chokepoint. 'It signals that Beijing is inching closer to the G2-style negotiations it has long sought, framed in official rhetoric as a call for 'mutual respect and equality.'' While the reality on the ground has not changed much, the situation has not deteriorated, he added. 'Whether there will be a Xi-Trump summit later this year will be crucial. If that happens, a partial agreement is still possible.' On Tuesday, AMD said the US Department of Commerce was reviewing its licence applications to export MI308 chips to China, and that sales would resume once approved.

Ride-hailing is set to be legalised in Hong Kong in 2026 but what questions remain?
Ride-hailing is set to be legalised in Hong Kong in 2026 but what questions remain?

South China Morning Post

time4 hours ago

  • South China Morning Post

Ride-hailing is set to be legalised in Hong Kong in 2026 but what questions remain?

Hong Kong authorities have unveiled highly anticipated proposals to regulate ride-hailing services, marking a significant milestone for a sector that has existed locally in a grey area for a decade. However, unanswered questions remain on the proposed new regulatory regime, with figures for quotas on ride-hailing vehicles, a levy on trips and assorted fees not yet disclosed. The Post unpacks the regulatory proposals and how they may affect users of ride-hailing services. 1. What is the proposed legal framework? Transport authorities announced their proposals on Tuesday and hope to legalise ride-hailing services as early as the first half of next year. Under the proposed framework, ride-hailing platform operators and drivers will be subject to renewable licences every five years, and vehicles annually, to prevent the speculative trading that is rampant in the taxi trade. Ride-hailing vehicles must not be older than seven years and must also be registered in the name of the owner, who will have to pay for commercial insurance. Platform operators must be Hong Kong-registered companies that meet the government's required operation threshold and have a certain investment commitment to be eligible to provide ride-hailing services. Drivers must also be aged 21 or above, hold a private driving licence for at least one year, pass an assessment, and have had no serious traffic incidents in the past five years. Existing cabbies are allowed to obtain such a licence without going through the assessment.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store