China is not only the world’s largest EV market; it has also become the main global manufacturing hub for EVs and the batteries that power them. In 2024, the country accounted for more than 70% of global electric-car production and more than half of global EV sales, and firms like CATL and BYD together control close to half of global EV battery output, according to a report by the International Energy Agency. These companies are stepping in to offer solutions to customers wishing to offload their old…

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