BYD has become the largest manufacturer of electric cars in the world (Reuters)
Chinese data showed that sales of new energy vehicles in the country represented about two-thirds of the world's total last year.
Secretary General of the China Passenger Car Association, Cui Dongxu, said that about 8.87 million units of these vehicles were sold in the Chinese market during 2023, an increase of 37% from the previous year, representing 63.5% of sales in the world.
China's NEV penetration rate (the ratio of NEVs to all car sales) rose to nearly 30% over the past year.
And in the details:
Electric passenger cars accounted for 69% of sales in China in 2023.
Plug-in hybrids accounted for 31%.
Cui said that Chinese new energy vehicles have witnessed strong growth in sales in both the domestic market and exports, due to their great popularity in the Southeast Asian and European markets.
Data released earlier showed that China's new energy vehicle exports rose by 77.6% year-on-year last year to reach 1.2 million units.
Chinese supremacy
The rise of Chinese electric car manufacturers such as BYD and Nio has become exciting for Western competitors, indicating a radical change in the global landscape of the automobile industry.
The Chinese company BYD overtook its competitor Tesla in the last quarter of 2023 to become the largest electric car maker in the world.
The Chinese company sold 526,000 cars in the last quarter of last year, while Tesla sold only 484,000 cars.
BYD produced more than 3 million electric and hybrid cars in 2023, while Tesla produced only 1.81 million electric cars that year, so that the Chinese company sits on the throne that Tesla monopolized for many years, according to what the British newspaper “Financial Times” reported. Recently.
Source: Agencies