Global BEV growth dropped to under 20% in November due to China’s NEV slowdown. Despite this, global BEV sales hit a record 1.4 million units. Europe saw steady growth, while the US faced lower support for plug-in vehicles. PHEV growth stalled, but BEVs remained attractive with expanding charging networks.

In the US, November LV BEV sales were down 36% YoY. Analysts predict low growth in the plug-in sector as OEMs shift away from BEVs. Pressure to reduce climate regulations may impact investment in electric vehicles. China aims to shift to a more sustainable NEV model under its ‘anti-involution’ policy.

Near-term policy mechanisms show mixed support for plug-in vehicles. Europe reintroduces plug-in grants, while the US may soften GHG-limiting measures. China shifts towards a more sustainable NEV sector approach. November saw record global BEV PV sales, with PV BEVs accounting for over 20% of global passenger car sales.

Read more at Yahoo Finance: China NEV market slowdown drags global BEV growth down