More than 60 billion euros investment Europe last year electric vehicle investment over China for the first time

BEIJING, June 26 (Xinhua) — Europe has overtaken China in attracting investment in electric vehicles and battery development, with a record 60 billion euros invested last year, nearly 20 times as much as two years ago, according tomedia.

More than 60 billion euros investment Europe last year electric vehicle investment over China for the first time

In the 12 months to mid-2018, Europe received only 3.2 billion euros in private and public funds for electric transport research and development, while China attracted nearly 22 billion euros. Investment in electric cars in Europe surged to $60bn in the 12 months to mid-2019, while China’s fell to 17.1bn euros.

“A few years ago, Europe was almost lost in the race for the technological advantageof electric vehicles,” says Saul Lopez, who studies electric transport at T. E. “But the EU’s CO2 targets have focused carmakers and governments. “