China Becomes The Global Leader in New Energy Vehicle Industry
Nov 06, 2024
At present, China's new energy vehicles are in the spotlight, sweeping across China and surging into overseas markets like an unstoppable heat wave. Some overseas media exclaimed: China's new energy vehicles have achieved "China speed" and "China opportunity"!
The brilliant performance of China's new energy vehicles in domestic and overseas markets shows that it has become the leader of the global new energy vehicle industry.
According to the news from the China Automobile Association, China's new energy vehicle sales in the first 10 months were about 9.8227 million units, an increase of more than 32% year-on-year, and new energy vehicle sales accounted for 38.6% of the total sales of new cars, showing strong market demand. The export market continues to expand. From January to September this year, a total of 928,000 new energy vehicles were exported, an increase of 12.5% year-on-year. In the global electric vehicle sales, China accounts for more than half of the market share, highlighting the important position of China's new energy vehicles in the global market. BYD, China's largest new energy vehicle manufacturer, produced about 3.297 million new energy vehicles from January to October this year, a year-on-year increase of 36.26%; sales were about 3.2505 million units, a year-on-year increase of 36.49%.
According to the "Global Electric Vehicle Outlook 2024" report released by the International Energy Agency, global sales of new energy vehicles will reach 17 million in 2024, and global demand for new energy vehicles will continue to grow strongly in the next 10 years. According to data released by the China Passenger Car Association, in 2023, China's global market share of pure electric vehicles will be 62%. As the world's largest producer and consumer of new energy vehicles, China has become an important part of the world's automotive industry. In 2023, China's production and sales of new energy vehicles both exceeded 9 million, ranking first in the world for 9 consecutive years. According to the agency's forecast, China's new energy vehicle production and sales scale is expected to reach 13 million in 2024, and the penetration rate may exceed 40%. Exports are expected to reach 1.8 million, a year-on-year increase of 50%. This shows the strong development momentum and broad market prospects of China's new energy vehicle industry.
The product quality of China's new energy vehicles has been recognized by overseas markets. The growth momentum of exports mainly comes from the improvement of product quality competitiveness, and the technical performance in terms of safety, energy density, charging speed, intelligence, etc. has been continuously improved. These factors have jointly promoted the export growth of China's new energy vehicles.
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