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In countries like China, which leads the world in EV production, government incentives have spurred the development and adoption of new Chinese EV models. This has accelerated the shift toward electric vehicles and contributed to lower costs as manufacturers scale up production. The Chinese government has also invested heavily in infrastructure, creating an ecosystem where new energy electric cars are more affordable and convenient to use.

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The 7% growth rate typically refers to the annual increase in sales of passenger vehicles in a specific market or segment. This steady growth suggests that consumers remain keen on purchasing new vehicles, a trend fueled by various factors. One of the main contributors is the increasing demand for fuel-efficient and environmentally friendly vehicles. As concerns about climate change and air pollution mount, many consumers are leaning towards cars that offer better fuel economy or have alternative powertrains, such as electric or hybrid vehicles.


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