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Chinese EV market will remain largest in the world from 2021 to 2029: Fitch Solutions

Felicia Tan
Felicia Tan6/28/2021 5:19 PM GMT+08  • 4 min read
Chinese EV market will remain largest in the world from 2021 to 2029: Fitch Solutions
The majority of demand for EVs will also stem from China, Japan and South Korea, the three most advanced economies in Asia.
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The electric vehicle (EV) market in Asia will continue to grow at a fast pace on the back of more companies in the region supporting the uptake on EVs, says Fitch Solutions in a June 20 report.

On this, the team at Fitch Solutions has estimated that EV sales in Asia will grow by 78.1% in 2021 from an estimated growth of just 4.8% in 2020.

In addition, the team predicts that total EV sales in Asia will reach a high of just under 10.9 million units by the end of 2030, up from an estimated sales volume of 1.4 million units in 2020.

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