The decision by BMW and Mercedes-Benz to establish a high-power charging network in China is a strategic response to the burgeoning EV market. The global electric vehicle market is projected to grow from USD 500.48 billion in 2023 to USD 1,579.10 billion by 2030, at a CAGR of 17.8%. In 2022 alone, electric car sales exceeded 10 million units globally, with EVs making up 14% of all new car sales​​​​. This backdrop underscores the timing and potential impact of the joint venture. China’s role in the global EV market cannot be overstated. In 2022, the demand for automotive lithium-ion batteries … Continue reading BMW and Mercedes-Benz Team Up to Electrify China’s Roads with High-Power Charging Network