The global electric vehicle (EV) market reached 11 million units last year with a penetration rate of 14 per cent, as more countries double down on electrification, connection, autonomous driving and sharing in the automobile industry.

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Global EV market reaches 11 million units in 2022, China leads
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Global EV market reaches 11 million units in 2022, China leads

According to the IDC report, China's BYD, Tesla and SAIC-GM Wuling occupied 36.11 per cent of the Global EV market in 2022