The electric vehicle transition is well underway in China: Last year, roughly one-third of all new cars sold in the country were electric. One EV company predicts the share will pass 50 percent by June 2024.
More broadly, around half of China’s total installed electricity generation capacity comes from non-fossil fuel sources, including hydro, solar, and wind power.
What does this ongoing transition away from fossil fuels mean for China’s oil industry – and how will a slowdown in China’s imports ripple around the world?
Dr. Erica Downs, a senior research scholar at the Center on Global Energy Policy at Columbia University SIPA, discusses the economic and geopolitical impacts of China’s energy transition.