A study by the Financial Times reveals that China expects to sell 12 million units of electric cars in 2025. These figures would double those achieved just three years ago, in 2022.
The report is based on information provided by four investment banks and research groups, focusing solely on electric cars.
Estimates suggest that more electric cars will be sold than the total number of vehicles using any type of combustion engine.
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Key figures
China holds a considerable advantage over other regions. For example, in Europe, 1,303,686 electric cars were sold out of a total of 9,726,049, representing a 13.4% market share. Meanwhile, in China, they expect to surpass 50% by 2025.
One of the main factors driving this situation is that China is one of the world’s leading producers of electric vehicles, increasingly exporting more Chinese cars to Europe.
Registrations of combustion vehicles are expected to fall to 11 million. This would represent a drop ofalmost four million units, as 14.8 million combustion vehicles were sold in 2022.
According to the report, the Chinese government is striving to enable its manufacturers to reach production levels that help reduce manufacturing costs, establishing themselves as the most cost-effective region globally.
Chinese electric cars are significantly cheaper than those produced in Europe. Because of this, the European Union has decided to impose new tariffs on Chinese cars to maintain the competitiveness of European vehicles.
According to Bloomberg, one of the brands most affected by this measure is MG, owned by the group SAIC, which has faced a 35% increase in these tariffs, in addition to the existing 10%.
Nevertheless, the SAIC group sold a total of 217,209 electric car units in 2024, a 6% increase compared to the previous year.
