IDTechEx's report on challenges of the world’s largest electric vehicle market
In 2016, after growing at a rate of 24% CAGR since 2002, China’s electric two-wheeler market peaked at around 32 million. (Image source: Adobe stock)
With China being the largest electric vehicle market in the world, some 29.66 million were produced in 2020, however, the market is no longer seeing the explosive growth of the past, said the IDTechEx report “Electric Two-wheelers 2021–2041”