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Electric vehicle market share doubled last year

Electric vehicle market share doubled last year

Change: fast, but slow

Almost 9% of all new cars sold last year were electric, according to a new report from the International Energy Agency, more than double the 4% that were electric the year before.

That's a big leap forward in relative terms, but in absolute terms is more modest. The 9% market share figure represents about 6.6 million actual new electric cars, a tiny, tiny fraction of the 1.3-1.4 billion cars that are estimated to be on the road around the world.

Tesla leads, just

The other interesting data point from this report is that Tesla still leads on electric car deliveries, selling 936k cars last year. That's ahead of VW Group's 763k and BYD's 598k (all of which came in China alone).

Recommended reading: The long road to electric cars.

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Ford reportedly in talks to buy hybrid vehicle batteries from Chinese auto giant BYD

Detroit’s Ford and China’s BYD are said to be in ongoing talks to partner on an agreement that would see Ford buy hybrid vehicle batteries from BYD, according to reporting from The Wall Street Journal.

The report comes just days after President Trump toured a Ford factory in Michigan and implied openness to Chinese automakers coming to the US.

“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

Last week, China’s Geely Automobile Holdings said it expects to make an announcement about expanding into the US within the next three years. Chinese carmakers currently face huge tariffs and software restrictions, effectively barring their vehicles from the US.

Ford has doubled down on hybrid vehicles amid high EV costs and the end of federal EV tax credits. The automaker is currently building a battery plant in Michigan where it plans to use tech from Chinese battery maker CATL.

“If they want to come in and build a plant... that’s great, I love that,” Trump said on January 13. “Let China come in, let Japan come in.”

Last week, China’s Geely Automobile Holdings said it expects to make an announcement about expanding into the US within the next three years. Chinese carmakers currently face huge tariffs and software restrictions, effectively barring their vehicles from the US.

Ford has doubled down on hybrid vehicles amid high EV costs and the end of federal EV tax credits. The automaker is currently building a battery plant in Michigan where it plans to use tech from Chinese battery maker CATL.

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