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Global EV Market Diverges; US Trails Significantly
TechCrunch·
The global electric vehicle market is exhibiting a 'K-shaped' recovery, with significant growth worldwide but stagnation in the United States. Globally, EV sales exceeded 20 million units last year, capturing 25% of the market, driven primarily by China and emerging markets like Latin America. In contrast, US EV sales remain flat at around 10% market share, hampered by policy changes and restrictions on Chinese automakers. This divergence presents challenges for US-focused startups like Rivian and Lucid, while legacy automakers face pressure to adapt or risk losing global market share. Chinese manufacturers are increasingly dominating international sales, particularly in emerging economies, due to competitive pricing.
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ev
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