Surge of EV sales in China and Europe is curbing gasoline demand, IEA says

Toril Bosoni, head of oil industry and markets division at the International Energy Agency, reviews the outlook for oil demand growth over the coming months.

[@happymelon7129]

% of the cars produced are exported. Germany: 75% South Korea: 70% Japan: 50% China: 15% U$ : China’s has overcapacity.

[@yzhang9265]

Exactly dude

[@ssukhdev]

China forces foreign car companies form joint ventures with local Chinese companies and produce locally in China . Why should US and Europe let China to sell their cars in US & Europe without hefty tariffs? China has always engaged in unfair trade practices. I guess bots already know this but choose to ignore it. Same with Facebook, Google, X, Instagram. They are all banned in China but when someone talk about banning TikTok, they start crying and call it unfair.

[@theinfralink6598]

The problem is China is supposed to be a net importer of automobiles and should be only supplying the world with jeans, socks, shirts and shoes.

[@happymelon7129]

@@theinfralink6598 😅 Yes, you are correct. The west(20%) setup the rest(80%) as labour camp, labour camp must stay as labour camp. But China escape and went to develop, so they are angry and worry other will follow.

[@Zerpentsa6598]

The US is more concerned with suppressing China than with tackling global warming. They don't want people to buy affordable EVs from China. Another example is US aurline companies are demanding that China airlines do not overfly Russia but instead must take the longer route just because western airlines have banned Russian civil airlines from overflying western nations and Russia has retaliated.

[@wisl8122]

Yellen “how dare China make affordable and innovative EV for the rest of the world to use!! They are too cheap!! USA gas car is the king !”

[@user-bb7fv3ef5q]

HOW DARE CHINA😂😂😂

[@weirdshibainu]

It's not that simple. China imposes high tariffs to protect it's own industries and they still refuse to protect IP.

[@yzhang9265]

% of the cars produced are exported. Germany: 75% South Korea: 70% Japan: 50% China: 15% U$ : China’s has overcapacity. LMAO

[@oneplanetearth]

The west cant compete with OVERCAPACITY cheap China EV. I want cheap cheap China EV ✌✌✌

[@kenyup7936]

but our country cant compete with american companies, that's why our country banned all western social media

[@hdvoice]

@@kenyup7936what country are you talking about? The one with TikTok?

[@whatyousaid1375]

But Yemen said ev cars over capacity 😂😂😂

[@kenyup7936]

she meant dont flood our cheap EVs in their country not EVs over capacity, dont you understand english?

[@rhena229]

Yellen is an example of U.S.’ over capacity of bad politicians. 😂

[@araara4746]

@@kenyup7936 Yellen literally said "OVERCAPACITY". It seems like you don't understand human language.

[@ITeachChinese]

Yemen? 😂

[@willeisinga2089]

More EV Less Gasoline. Clean Air Blue Sky Coming.

[@Cordycep1]

But gas/diesel price will still go up because of export.

[@davidz7858]

Not US, EV in us is too expensive and gas relative too cheap. And cheap China EV is overcapacity, can not come in, or with high tax. American people do not deserve for cheap products upon Yellen concept.

[@jogana6909]

In China, the operating cost of EV is much lower than that of ICE car (conservative estimate is more than 5 times). To put it simply, if you have an ICE car and an EV at home, no one will choose to drive an ICE car because it costs too much money. Ordinary people drive EVs not for environmental protection, nor for low noise, but purely to save money. This is also the root cause of the increasing proportion of EV sales.

[@willeisinga2089]

@@jogana6909 So EV is for Environmental Protection, Low Noise and Low Cost. 🙂👍❤

[@user-bb7fv3ef5q]

Today we have e car, tomorrow we will have wireless charging for cars! The day after tomorrow, we will have autonomous flying cars! And further down the line, we will have flying residences! All this in another 30 years!

[@marvinfok65]

EVs sales is low for the US because there is no charging points, but China's EVs is still growing! Yeah, oil companies would want more ICE vehicles & the media is helping to tell lies about EVs slower growth!

[@ArmageddonIsHere]

The major advertisers on media networks are legacy ICE car manufacturers. Whereas the biggest and most attention-getting EV manufacturer - Tesla - doesn't spend a penny to advertise. Who do you think the media will distort the truth for?

[@ZweiZwolf]

China has more public EV chargers than the rest of the world COMBINED. They installed roughly 750,000 chargers last year.

[@Paul-H-Wolfram6608]

Thats great news for China EV manufactuers and China EVs export.

[@malin7919]

And yet the gasoline price is very high, especially in California. Price gouging is taking place apparently.

[@cchui01]

Obama should thank China for his vision of EVs in 2008.

[@forcedbreathingistyranny696]

You have an agenda and m just not sure what…

[@LaowaiDaveJCP]

China should blacklist Obama for targeting China militarily in 21st century

[@ghtwghtw7197]

world looks toward china nowadays

[@mintheman7]

It’s almost as if it is very predictable, and why the fossil fuel industry was so against EV’s. I’m old enough to remember curbing global warming had bipartisan support, because it is thought to be an issue in the future. As soon as it was clear it’s an issue in our lifetime, the disinformation machine funded by big oil kicked in, hiring the same PR firms used by big tobacco to shape public opinion.

[@weirdshibainu]

LOL. You really think E.V.'s will do a thing about climate change? You're funny

[@wongwk4670]

Well, when China is making EV cars for export, western media claimed it was due to overcapacity. So, the reason i can get an iphone in my country must be due to the very same reason of Apple overcapacity then.

[@ZweiZwolf]

The reason you can get gas to fill your car is OPEC overcapacity in oil. Imagine if OPEC got rid of all that 'excess capacity'!

[@makwee8034]

All talk and very little data and graphs on the actual gasoline usage breakdown by different types of gasoline, by country and period.. Hard to believe

[@peterbedford2610]

Yellen warns China against "dumping" products in US. No cheap EVs for US.

[@happymelon7129]

😆commitment ? 29-3-2024, Biden’s $7.5 billion investment in EV charging has only produced 7 stations in two years. After two years, that program has only delivered seven open charging stations with a total of 38 spots where drivers can charge their vehicles, according to a spokesperson for the Federal Highway Administration. (The funding should be enough to build up to 20,000 charging spots or around 5,000 stations, according to analysis from the EV policy analyst group Atlas Public Policy.)

[@user-bb7fv3ef5q]

US is just waiting for wireless charging car technology to arrive🤭🤭🤭

[@victorsvoice7978]

What is driving inflation? Greed of oil companies and governments that depend on oil taxes. Countries that depend on foreign oil makes them subject to control by the oil producers.

[@BebekGoreng88]

overcapacity imagine 2 kids are selling lemons, and one kid says to other kid "you are overproducing your lemons and selling them at much lower price than mine. It's not fair!"

[@Withnail1969]

There is not a surge of EV sales in Europe.

[@ChipChat1493]

If you have foresight and if you keep up with what's going on in the middle east, it will not be wise for you to buy an ICE car. Petrol prices may skyrocket. A small and reasonably priced EV with at least 500km range is the way to go.

[@hehe-mq2bk]

Yellen just knows America can't compete with EVs

[@liamporter1137]

EV is the future for clean energy. ICE is so yesterday.

[@surasaradiyel1302]

kidding ? growing demand for ev. where ? talk to GM , ford they cannot sell EV's , they cut production . Lot of people are busy , ev like baby , you have to baby sit. plus found out maintenance is higher ? god bless who ever wants to buy ev's. Small cars , not for americans.

[@g5realestate280]

Then why gasoline prices are still higher?

[@ZweiZwolf]

PROFIT!

[@cleanenvironment8121]

Get out of the electric car market ... while you can. Government is in the middle rethinking the whole EV issue because of economical and environmental worries of toxic batteries.

[@Reddylion]

India ev 👍

[@buixote]

The Electric Viking is one of the best EV KZbin Channels.

[@ashk4155]

Nio#1

[@dariomendoza191]

for city driving and even Medium distances under 100 miles they Are PERFECT!!!

[@ArmageddonIsHere]

I have ONLY a Tesla now.and I take it distances of 300 miles, of course with a charging stop, which also is a bathroom break and eating break for me. The car gets recharged faster than I do.

[@dariomendoza191]

@@ArmageddonIsHere i didnt mean to say all of them!! ithink TESLA is at the TOP For long distances!! thanks for Sharing!!!!

[@ArmageddonIsHere]

@@dariomendoza191 Right now, at least in the US, Tesla is the only EV that is reasonably usable for other than city driving, and the supercharger network is the reason why. Anyone who has tried using other charging networks, as I recently did for the first time, would quickly understand why other EV manufacturers are floundering. That experience is simply TERRIBLE!

[@dariomendoza191]

@@ArmageddonIsHere so sad cause theres alot of us that would love to Own ONE!! but the good ones are a beyond a working class Budget!! thanks for Sharing!!

[@freedomrulesjavier3904]

we are decades away from an all EV world...if ever. When the cost of the infrastructure is calculated along with the damage to the environment from battery manufacturing...we probably are headed to a hybrid solution rather than a Tesla solution.

[@ArmageddonIsHere]

The US is peopled by ants: all pulling in different directions. Whereas the Chinas of this world, and increasingly, the Indias, are methodically harnessed to work in the same direction. While the former approach is great for innovation, the latter has its merits too. And you're seeing one of those merits play out in the field of EVs.

[@surasaradiyel1302]

really?

[@hugowilliams1988]

The world is safer.

[@johnnyq4260]

Overcapacity!

[@jogana6909]

China's efficient manufacturing industry was slandered as overcapacity by US. Trade protection will only make US companies lazier and fatter.

[@geodive5542]

Haha😂😂😂😂😂😂😂😂 Fuxk I’m good

[@TheKkpop1]

I want affordable EV at 5k USD.

[@王小可-w9x]

Now it is a little hard even in China.But if you just want a small car which can just support two people,it is ok

[@rusticbox9908]

You're in luck! Check out the Wuling.

[@tedchandran]

Jai Hinduja. Certain vlogger is making fake news that millions of Chinese EVs are stuck in European ports

[@ArmageddonIsHere]

Why are you afraid to say the vlogger's name? Why hide behind "certain vlogger"?

[@xiphoid2011]

surging EV demand? Which planet are you on? EV growth is slowing in China, EU and US. While I agree that EV or fuel cell or other alternative powered vehicles are the future, it's currently facing a major reality check on the previous growth projections. The practicality of EVs is seriously limiting. The regular charging time is too long or lack convivence. The limitation of lithium are, well...too limiting, and battery swapping is too capital intensive and low return to be financially viable. To be sure, I'm not saying the EV is not the future, but please don't over hype things and mislead the masses. There are still too many rate limiting steps to overcome yet.

[@bennyraichu]

practicality is only limited in countries where the infrastructure and choice of products suck. EVs are perfectly viable in China where you can find chargers anywhere and the EV market spoils consumers with choices. I too wouldn't buy an EV if there are no chargers where I live and my choice is between Tesla, KIA and Chevy Bolt lmao

[@mariajiao4855]

You clearly don't understand what's big trend vs small trend. ev is the future, but that doesn't mean the demand won't go down temporarily. Like Nvidia stock is surely going up, that doesn't mean it will go up every day.

[@mintheman7]

The growth curve is flattening doesn’t mean there is no growth. EV still had the highest YoY growth out of all auto sectors in Q1. The lack of infrastructure is hampering EV growth, but that’s due to lack of political will and incompetence (40% availability for non-Tesla chargers vs. 97% availability for Tesla chargers. “Range anxiety” is not really a thing anymore in states with good infrastructure such as California. Go to Norway if you want to see what the future of mobility and EV infrastructure looks like.

[@TAL142]

EV is only 4%. That means China still has 96% more. And China already has the charging infrastructures. Electricity is really really cheap in China. The range is 600 km to 1200 km per charge with around 30 minute charging time. That would last you several days to a week. And if you really don't want to wait, you can buy the battery swapping cars. With all the high tech features they can drive itself and park itself. You can always buy a hybrid or pure EV.

[@kenyup7936]

not the cases for China, but probably for EU and the US

[@binhe6500]

Yet Biden bans Chinese ev so will trump😂

[@BrowseAndLook]

The US is like a girl doing that for the first time. She wants it she really wants it but she still holds on to her panties and struggles futilely.

[@tonywyli]

Lower gasoline demand? This is all we would like to see.

[@sir.cannabis1173]

When people drive 5 hours on a Wim to see the snow we have energy wasters that need to grow up.