China’s cumulative new energy vehicle (NEV) sales have exceeded 40 million units, the State Council Information Office said on Thursday, underscoring the country’s decade-long lead in the global electric vehicle market.
China has been the world’s largest producer and seller of NEVs for 10 consecutive years, a spokesperson said, adding that the sector’s expansion supports global carbon reduction goals. Sales have surged tenfold in the past five years, rising from 1.3 million in 2020 to nearly 13 million in 2024.
Eight government departments, including the Ministry of Industry and Information Technology, last week set a 2025 target of 32.3 million annual vehicle sales, up 3% year on year. The plan foresees NEV sales of 15.5 million this year, a 20% rise from 2024, with penetration reaching 48% in 2025 – meaning almost one in two cars sold would be an NEV.
Between January and August, NEV sales in China rose 36% year on year to 9.59 million units, according to data from the China Association of Automobile Manufacturers. Battery-electric vehicles accounted for 6.16 million units, up 46%, while plug-in hybrids contributed 3.43 million units, up 22%.