A record two-thirds of car sales in China are now electric vehicles
For the first time, new-energy vehicles — including battery electric vehicles and plug-in hybrids — made up 67% of new car sales in China in September.
In 2020, NEVs made up just 6% of new car sales in 2020 — and have risen dramatically since, to 58% so far in 2026, and a record 67% in September alone.
Analysts point to the rising fuel costs due to the Iran war and say the rapidly growing fleet of electric vehicles in the country has offset demand for 143 million barrels of oil since the Hormuz crisis began.
Why is this good news? Denmark recently achieved the historic milestone of electric vehicles accounting for 97% of new car sales — but critics said that figure is highly achievable in such a small country. China is one of the largest countries in the world — both in terms of land area and population, showing that significant progress in EV adoption is possible anywhere.
Battery storage is now cheaper than open-cycle gas in 43 markets globally
Of the 43 markets modeled globally, a new report found that the levelized cost of electricity for four-hour battery storage “crossed a critical threshold” and is now cheaper than open-cycle gas in every single one.
The report showed that single-axis tracker solar — panels that rotate to follow the sun — are the cheapest new-build power source in nearly all markets modeled, and battery storage “decisively” beat gas.
While progress is lagging in North America due to tariffs, shifting clean energy policies, and demand from data centers, the cost of storage and solar are declining exponentially everywhere else thanks to supply chain integration.
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