Russian EV boom hides weak state of market

Despite government subsidies, Russia’s EV segment has a long way to go. By Jacob Moreton

Russia might seem an unlikely place for a green energy revolution. The country is the world’s second most prominent oil exporter, following only Saudi Arabia. It sells US$123bn of crude petroleum a year, according to the Observatory of Economic Complexity, while state-owned firm Gazprom produces 11% of the world’s total gas output.

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