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China overtakes Europe in EV sales | WARC | The Feed

China overtakes Europe in EV sales
10 February 2022
China overtakes Europe in EV sales
Eco, hybrid, electric cars Greater China

China accounts for more than half of all new electric vehicle (EV) sales around the world according to new figures that show the next generation of automotive leadership.

Data from the China Passenger Car Association, reported by The Next Web (TNW), states the shares of the global EV market stand as:

  • China – 53%

  • Europe – 33%

  • US – 11%

Of the 6.23 million electric cars sold in 2021, China sold 3.31 million. As TNW points out, the source of this data is extremely difficult to verify, but it still points to a strong industry.

In part, the significant growth follows a slump in 2020 when lockdown policies restricted building capacity. In addition, central government reduced the subsidy quota for EVs just as European countries were creating EV subsidies.

Brands to watch

The same study, in the cut reported by CNBC, shows how the majority of the top 15 brands in China are Chinese, the US’s Tesla takes strong top five spots:

  1. Hongguan Mini (SAIC-GM-Wuling)

  2. Qin (BYD)

  3. Model Y (Tesla)

  4. Model 3 (Tesla)

  5. Han (BYD)

Sourced from The Next Web, CNBC. [Image: Pexels]