China’s Electric Vehicle Surge Redefines the Auto Landscape

China’s auto market has soared into a new era, with electric vehicles (EVs) now representing more than half of all new car sales. Domestic players, such as BYD and CATL, lead on both manufacturing and battery tech, relegating global brands to a smaller share. Observers see this “EV revolution” reshaping not only China’s massive transportation sector, but also global energy consumption. Meanwhile, oil demand growth in the country is slowing as battery breakthroughs reduce reliance on fossil fuels.