Global plugin vehicle registrations reached a record 1.74 million units in October 2024, marking a 36% increase year-over-year. Full electric vehicles (BEVs) accounted for over one million units, while plugin hybrids surged by 65%. Notably, sales grew across all major markets, with China leading at a 67% increase.
Automakers, including BMW, GM, and Nissan, have responded to criticism over their supply chain practices, emphasizing their commitment to human rights and sustainability. Recent legal actions, such as a major class action in Brazil against mining companies, highlight the ongoing struggle for accountability in the extraction of minerals essential for electric vehicles. As regulations tighten globally, companies are urged to leverage their influence to improve conditions in mining and promote decarbonization across the industry.
The midsize EV market has shifted dramatically, with Tesla's Model 3 Long Range RWD leading at 46,000 euros for a remarkable 702 km range. Competing models like the Xpeng G6 Long Range RWD and BYD Seal RWD offer strong alternatives, showcasing impressive specs and value, while traditional German brands struggle to keep pace.
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