China's EV penetration hit 65% as of July, to reach 75% to 80% by 2030, Sinopec researcher says
XLE•China EV penetration and fuel demand outlook
SINGAPORE, Sept 10 (Reuters) - China's electric vehicle penetration reached 65% as of July, a Sinopec 600028.SS researcher said on Thursday, while 56 million metric tons (1.2 million barrels per day) of fuel demand are estimated to be replaced by the use of EVs this year.
Meanwhile, the country's EV penetration rate is expected to rise to 75% to 80% by 2030, according to Dr Fairy Wang, a vice president at Sinopec's research arm EDRI, at the APPEC conference.
