EVs capture two-thirds of China’s car market in record-breaking week

Electric vehicles accounted for a record 66.7 per cent of new car sales in mainland China during the first week of June, the latest sign that the country’s battery-powered carmakers are benefiting from the global energy crisis. Two out of every three new cars sold on the mainland in the seven days ending June 7 were either pure electric or plug-in hybrid vehicles, according to data from the China Passenger Car Association (CPCA). The penetration rate climbed from 62.9 per cent in May as a wave...