China’s EV sales zoom past western rivals

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Good morning. Today’s highlights include:

• The deal drought impacting private equity payouts
• Russia’s attack on Ukraine
• The decline of drugstores in America
• The changing interest in ice hockey among young Canadians

In China, sales of electric vehicles are projected to surpass traditional cars next year, outpacing Europe, the US, and Japan. With over 12 million EVs expected to be sold in 2025, Chinese factories may struggle to serve the diminishing domestic market for traditional engine cars.

Despite challenges like subsidy uncertainty and competition, China’s EV sector continues to grow, signaling a shift towards electric vehicles in the future.

Five more top stories

1. Private equity funds are seeing a slowdown in selling investments due to a lack of deals. The industry has struggled to find attractive deals since 2022, impacting payouts and valuations.

2. Demand for AI-enabled smartphones could help stabilize the semiconductor industry amid potential data center investment slowdowns.

3. Vacancies at US open-air shopping centers are at record lows, defying predictions of a retail apocalypse.

4. Russia’s recent attack on Ukraine’s energy system left half a million people without essential services.

5. Confectionery companies are investing in alternative cocoa ingredients due to climate change and bean shortages.

News in-depth

Ice hockey’s popularity in Canada is declining due to cost and scandals, leading young Canadians to choose other sports.

We’re also reading…

Chart of the day

US drugstores are disappearing as labor costs and reimbursement rates impact the industry.

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