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Trade data reveal changing patterns in electric vehicles market
Electric vehicles (EVs) are radically transforming the transport sector, redefining the automotive market, and reshaping global trade in transport equipment. By the end of 2023, EVs accounted for more than a third of all car imports in value terms. Recent years have seen a dramatic increase in sales of various types of EVs — including hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV), but they were not separately considered in the trade statistics. As a result, in 2017 the World Customs Organization implemented an amendment to the classification system for ... (full story)