China's electric car boom is increasingly more about hybrids

In China, hybrid-powered vehicles are surpassing battery-only cars in popularity, with BYD selling 4.3 million passenger cars in 2024, of which 2.5 million were hybrid. Tesla, focusing on battery-only cars, is expected to sell over 600,000 vehicles for the second consecutive year in China. The market is still showing growth for battery electric vehicles, but demand for internal combustion engine-based vehicles, including hybrids, is expected to continue until 2031.

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