- China has maintained its position as the world's top producer and seller of NEVs for ten consecutive years.
- From 2020 to 2024, China's NEV sales surged tenfold from about 1.3 million units to nearly 13 million units.
China's cumulative new energy-vehicle (NEV) sales have exceeded 40 million units, the State Council Information Office announced at a press conference today.
The country has maintained its position as the world's top producer and seller of NEVs for 10 consecutive years, contributing to global carbon reduction goals, a spokesperson said during a live-streamed event.
China witnessed explosive growth in its NEV sector over the past five years, with sales surging tenfold from about 1.3 million units in 2020 to nearly 13 million units in 2024.
Last week, eight government departments including the Ministry of Industry and Information Technology (MIIT) outlined in an automotive industry growth stabilization plan that China aims for NEV sales of around 15.5 million units this year, representing about 20 percent year-on-year growth.
In 2025, China targets annual automobile sales of about 32.3 million units, a 3 percent year-on-year growth, according to the plan.
This implies a NEV penetration rate target of 48 percent for 2025, meaning 48 out of every 100 vehicles sold would be NEVs.
In China, NEVs encompass battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles.
From January to August this year, China's NEV sales reached 9.59 million units, a 36.37 percent year-on-year increase, according to data compiled by CnEVPost from the China Association of Automobile Manufacturers (CAAM).
BEVs contributed the bulk of sales, with 6.16 million units sold during January-August, a 46.06 percent year-on-year increase.
PHEV sales came in at 3.43 million units during the same period, up 22.04 percent year-on-year.
