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Tuesday, May 14, 2024

Chinese EVs gain in Japanese automakers’ key markets

TOKYO — As electric vehicles make up a larger share of global auto sales, reaching 7% in Australia and Thailand, EV-laggard Japanese automakers risk losing more ground to Chinese rivals in markets where they traditionally thrived.

EV sales in Asia and Oceania increased about 50% year-on-year to 530,000 units in May, according to data from research company MarkLines, which includes some estimates. Thailand and Australia saw particularly remarkable growth.

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