1100 ledlights.blog

Electric vehicle market size in China

Reading Time: 2 minutes
spotify badge ledlights.blog

As per GlobeNewswire, the global revenue generated in 2019 was $115 billion and in 2026, it is speculated to be $ 567.2 billion.

As per Statista, leading countries in the electric vehicle index in 2019 were,

The market share for plug-in electric vehicles in selected markets in 2019,

As per IEA, an estimated value for PHEV used in China was more than 500 thousand and in BEV it is around 2500 thousand on the road in 2019.

In 2022, as per electrive,

“China’s NEV sales data shows a total of 632,000 cars sold in August, more than in any previous month. Battery-electric vehicles continue to account for the vast majority of NEV sales in China, with 490,000 new BEVs in August compared to 142,000 PHEVs.”

The China Passenger Car Association (CPCA) stressed that this is the first time the figure has climbed above the 30 percent mark. 

As per Business Standards, in Q2, BYD shipped more than 354,000 EV units with an increase of 266% YoY. Tesla came in the 2nd position with 254,000 units with a sale increase of 27% YoY.

According to Counterpoint Research, 72% market share is for BEV and the rest is for PHEV.

“As the global semiconductor shortage has eased a bit, automakers are able to cater to the increasing demand for EVs. Moreover, EV sales would have been higher if China had not experienced fresh Covid-19 outbreaks during March,” said senior analyst Soumen Mandal.

  • BMW sales increased by 18% YoY.
  • Neta managed to sell 16,017 BEVs.
  • Leap motor with 12,525 BEVs in July.
  • Nio with 10,677 sales.
  • Xpeng’s sales slipped to 9,578 BEVs.
  • Geely’s Zeekr 001 electric sedan sold 7,166 units.
  • Voyah, Dongfeng Motor’s premium electric vehicle brand sold 2,429 vehicles in August, 495% more than a year ago.

As per Statista, the market share for pure electric vehicles in China in 2025 is expected to be 84%.

As per EVCIPA reports, 1.419 million public EV charging station is available in China. 613 thousand DC charging stations, 806  thousand AC charging stations and 485 AC-DC integrated charging stations.

“Throughout the first six months of 2022, the market in China caught up. Electric vehicles made up almost a quarter of all new passenger car registrations, with BEVs accounting for 19% and PHEVs for an additional 5%. This is four times as high of a market share than in 2020 and an 8 percentage point growth over last year’s market share.” theicct

Source: Gizmochina, Business Insider, elective, Statista

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.