Electric vehicle industry in China

Electric vehicles produced in China (left to right, from top):
  • BYD Song, BYD is the world's largest producer of electric vehicles.
  • Yutong electric bus.
  • Electric scooters and electric bikes are a common form of transportation in China.
  • Electric high speed train.

The electric vehicle industry in China is the largest in the world, accounting for around 58% of global production of electric vehicles (EVs) in 2023 and more than 1.28 million exports in 2024. In 2024, CAAM reported China had sold 12.87 million passenger electric vehicles, with 60% of those sales being BEVs (battery-only EVs) and 40% being PHEV (plug-in hybrid electric vehicles). China also dominates the plug-in electric bus and light commercial vehicle market, reaching over 500,000 buses (95% of global stock) and recording new sales of 447,000 commercial EVs in 2023.

Plug-in electric vehicle (BEV and PHEV) sales were 47.9% of the overall automotive sales in China in 2024. This is a significant increase from 2020, when plug-in electric vehicles accounted for only 6.3% of total sales. The plug-in market in China was dominated by Chinese companies, with BYD Auto and SAIC Motor occupying the top two spots, and 5 out of the top 7 spots.

The battery industry is closely related to the EV industry as batteries constitute around 1/3 of the cost of EVs and around 80% of lithium-ion batteries in the world are used in EVs. The industry also has significant Chinese presence, with major players including world's largest CATL, BYD, CALB, Gotion, SVOLT and EVE Energy.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.