Surprising absolutely no one, plug-in electric vehicles are the quickest growing branch of automotive industry today ... and it has been that way since they were re-introduced to the world at the beginning of this decade.

However, in the third quarter of this year, sales increased by 63% year-over-year - to more than 287,000, at least according to the Bloomberg New Energy Finance report.

Sales of New Energy Vehicles in China – October 2017

Sales of New Energy Vehicles in China – October 2017

The growth compared to second quarter is also fairly tangible at 23%.

BNEF states (again, fairly obviously to anyone following the segment) that China is the largest EV market fueled by significant incentives, which has lead more then 1 of every 2 plug-in sales coming from the region.

91,000 New Energy Vehicles were sold in China in October, including roughly 66,500 light vehicles - see report.

Europe finds itself in 2nd with a 24% share, while the North America - once the first - is now is third.

source: The Straits Times

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