AI Summary

China's electric vehicle market has reached a record high in terms of market share, with plugin vehicles accounting for 63% of total sales in June. This significant increase is attributed to a decline in sales of internal combustion engine vehicles, which plummeted by 42% in June. The rise of new electric models and high gas prices are likely contributing factors to this shift in consumer preference. The implications of this trend are not yet clear, but it suggests a growing demand for electric vehicles in China, which could have far-reaching consequences for the global automotive industry.

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