New energy vehicles to account for 50% of China’s car sales by 2030

China is expected to witness a significant surge in the adoption of new-energy vehicles (NEVs), constituting approximately half of new car sales by 2030, according to a report released by rating agency Moody’s Investors Service on Monday.

This projection indicated a steady and continuous increase over the next six years, fueled by state incentives and the expansion of charging infrastructure, Hong Kong’s ‘South China Morning Post’ (SCMP) newspaper reported.