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Electric cars in China

China keeps crown as top auto market despite slowdown

Government subsidies fueled 53% surge in sales of electric vehicles and hybrids

Geely Automobile Holdings, one of China's leading producers of new-energy vehicles, has seen its market capitalization grow 53-fold over the last decade.

BEIJING -- China remained the world's largest new-automobile market for a ninth straight year in 2017, despite the slowest growth in sales volume since 2011, as rising sales of SUVs compensated for a slump in smaller cars.

Sales climbed 3% to 28,878,900 units, data released Thursday by the China Association of Automobile Manufacturers shows. This is 70% higher than sales in U.S., China's closest competitor in market size, and 5.5 times the Japanese figure.

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