BMW and Mercedes-Benz Team Up to Electrify China’s Roads with High-Power Charging Network
The decision by BMW and Mercedes-Benz to establish a high-power charging network in China is a strategic response to the burgeoning EV market. The global electric vehicle market is projected to grow from USD 500.48 billion in 2023 to USD 1,579.10 billion by 2030, at a CAGR of 17.8%. In 2022 alone, electric car sales exceeded 10 million units globally, with EVs making up 14% of all new car sales. This backdrop underscores the timing and potential impact of the joint venture. China’s role in the global EV market cannot be overstated. In 2022, the demand for automotive lithium-ion batteries … Continue reading BMW and Mercedes-Benz Team Up to Electrify China’s Roads with High-Power Charging Network
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