324% growth in 2014: has China reached a NEV tipping point?

Sales of new energy vehicles (NEVs) in China rose by 324% in 2014 compared to the previous year, and the current situation suggests that a tipping point might have been reached.

According to CAAM (China Association of Automobile Manufacturers), sales of NEVs reached 74,763 units in China in 2014. This makes China the second largest NEV market in the world behind the US. If this pace continues, China will soon pass the US to take pole position in terms of NEV sales.

This raises some important questions: