Forbes report: China registered highest EV sales in 2017

Forbes report: China registered highest EV sales in 2017

In a recently released report, Forbes has drawn attention to data which shows that the sales of electric vehicles (EVs) in China were the highest in the world during 2017. Chinese market currently accounts for more than 50% of sales for electric vehicles.

According to Forbes report, EV sales figures for the year 2017 have revealed that a total of more than one million electrified cars were sold all over the world last year. The data also showed that more than three million EVs, including Nissan Leafs, Tesla vehicles and others, were in circulation worldwide; thereby marking a notable 50 percent increase over the 2016 figures.

As per the data for 2017, the number of EVs bought by Chinese drivers was 579,000, which was much higher than the 198,350 EVs bought by consumers in the United States.

The astounding adoption of EVs in China is apparently the outcome of the fact that the country is struggling with high pollution levels as well as climate change concerns. In addition, the authorities in China are pushing for a transition away from gas-powered cars because several reports have disclosed that the dependence of the country on foreign oil has been analysed as a strategic vulnerability.

With China also evidently mulling a possible ban on the production and sale of gas-powered vehicles in the future, the purchase of EVs is being incentivized by the country by offering a 10 percent tax rebate to NEV buyers.