Electric vehicles are expected to outsell cars with internal combustion engines in China for the first time next year, in a historic inflection point that puts the world’s biggest car market years ahead of western rivals.

The EV bust, despite fears, didn’t happen this year. Throughout the year, automakers scaled back their EV plans, blaming lackluster customer demand. Even Tesla, the market leader in battery electric vehicles,

As per the report, over 7 million electric cars were sold globally in the first six months of 2024, marking a 25% rise compared to the same period in 2023. The report also noted that the share of electric vehicles (EVs) in the global car fleet is expected to reach around 5% by the end of 2024.