{"id":16884,"date":"2023-03-02T07:24:31","date_gmt":"2023-03-02T12:24:31","guid":{"rendered":"https:\/\/latamobility.com\/?p=16884"},"modified":"2023-03-02T07:24:42","modified_gmt":"2023-03-02T12:24:42","slug":"ev-market-in-china-to-reach-10-million-units-per-year-by-2025","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/","title":{"rendered":"EV Market in China to Reach 10 Million Units per Year by 2025"},"content":{"rendered":"\n<p>Government incentives in China helped the battery electric vehicle (BEV) market expand by 88% last year and further growth is predicted.<\/p>\n\n\n\n<p>China leads the global battery electric vehicle market by a considerable margin, according to the latest <a href=\"https:\/\/www.globaldata.com\/media\/automotive\/global-battery-electric-vehicle-demand-hit-11-million-units-2023-41-2022-according-globaldata\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-theme-palette-1-color\">data analysis<\/mark><\/strong><\/a> by <strong>GlobalData<\/strong>, with a significant increase during 2022.<\/p>\n\n\n\n<p>In a report published by <strong>Just-Auto<\/strong>, GlobalData analyst <strong>Al Bedwell<\/strong> explained that last year saw significant advances in light vehicle electrification in most regions of the world.<\/p>\n\n\n\n<p>However, <strong>China led the way with the expansion of the personal vehicle battery electric vehicle market by 88%<\/strong>. It also saw strong performance in the PHEV (plug-in hybrid) segment.<\/p>\n\n\n\n<p><strong>Read also:<\/strong> <a href=\"http:\/\/Stellantis Makes Million-Dollar Investment on Argentine Copper for Electromobility Strategy\"><strong>Stellantis Makes Million-Dollar Investment on Argentine Copper for Electromobility Strategy<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-role-of-the-public-sector\"><strong>Role of the Public Sector<\/strong><\/h2>\n\n\n\n<p><strong>&#8220;China&#8217;s NEV [BEV and PHEV] market continues to make staggering progress with wholesale sales of battery electric cars accounting for at least one-fifth of all auto sales since March 2022 with NEV share exceeding one-quarter of sales since April,&#8221;<\/strong> Bedwell noted.<\/p>\n\n\n\n<p>The analyst believes that government incentives have played a key role as the Chinese market recovered from blockades and supply to the market improved over the course of 2022.<\/p>\n\n\n\n<p>&#8220;Enrollments in megacities plus rapid developments in the desirability of local product have greatly stimulated the market,&#8221; he noted.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-big-projections\"><strong>Big Projections<\/strong><\/h2>\n\n\n\n<p><strong>GlobalData<\/strong> statistics show the Chinese market growing from one million a year in 2020 to five million sales in 2022.<\/p>\n\n\n\n<p>Bedwell sees a very positive outlook for BEVs and PHEVs in China. &#8220;Given the continued support for the NEV segment, the mandatory NEV credit policy, which is becoming much stricter, and the clear market opportunities, we see continued strong growth for China&#8217;s EV segment, although not at the pace seen in 2022.&#8221;<\/p>\n\n\n\n<p>It estimates that by 2025, <strong>NEV sales could exceed 10 million units per year<\/strong>, of which nearly 90% will be BEVs.<\/p>\n\n\n\n<p><strong>GlobalData<\/strong>&#8216;s data also shows that the top three electric vehicle manufacturers, <strong>BYD<\/strong>, <strong>Tesla <\/strong>and <strong>Wuling<\/strong>, dominate the Chinese BEV market, with a share of 29%, 11% and 9%, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government incentives in China helped the battery electric vehicle (BEV) market expand by 88% last year and further growth is predicted. China leads the global battery electric vehicle market by a considerable margin, according to the latest data analysis by GlobalData, with a significant increase during 2022. In a report published by Just-Auto, GlobalData analyst&#8230;<\/p>\n","protected":false},"author":8,"featured_media":16881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[2054],"tags":[1564,1281,1489],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.10 (Yoast SEO v22.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EV Market in China to Reach 10 Million Units per Year by 2025 - Latam Mobility<\/title>\n<meta name=\"description\" content=\"The analyst believes that government incentives have played a key role as the Chinese market recovered from blockades\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EV Market in China May Reach 10 Million Units per Year by 2025\" \/>\n<meta property=\"og:description\" content=\"The analyst believes that government incentives have played a key role as the Chinese market recovered from blockades\" \/>\n<meta property=\"og:url\" content=\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Latam Mobility\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/latamobility\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-02T12:24:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-02T12:24:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/latamobility.com\/wp-content\/uploads\/2023\/03\/CHY.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1242\" \/>\n\t<meta property=\"og:image:height\" content=\"810\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jhonattan Gonz\u00e1lez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"EV Market in China May Reach 10 Million Units per Year by 2025\" \/>\n<meta name=\"twitter:description\" content=\"The analyst believes that government incentives have played a key role as the Chinese market recovered from blockades\" \/>\n<meta name=\"twitter:creator\" content=\"@LataMobility\" \/>\n<meta name=\"twitter:site\" content=\"@LataMobility\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jhonattan Gonz\u00e1lez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\"},\"author\":{\"name\":\"Jhonattan Gonz\u00e1lez\",\"@id\":\"https:\/\/latamobility.com\/#\/schema\/person\/2ccc571bb8da11d2ab9874e2c275fed9\"},\"headline\":\"EV Market in China to Reach 10 Million Units per Year by 2025\",\"datePublished\":\"2023-03-02T12:24:31+00:00\",\"dateModified\":\"2023-03-02T12:24:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\"},\"wordCount\":330,\"publisher\":{\"@id\":\"https:\/\/latamobility.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/latamobility.com\/wp-content\/uploads\/2023\/03\/CHY.jpg\",\"keywords\":[\"electric cars\",\"ELECTRIC MOBILITY\",\"Sustainability\"],\"articleSection\":[\"Electric Mobility\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\",\"url\":\"https:\/\/latamobility.com\/en\/ev-market-in-china-to-reach-10-million-units-per-year-by-2025\/\",\"name\":\"EV Market in China to Reach 10 Million Units per Year by 2025 - 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