Introduction

In the first half of 2024, China’s electric vehicle (EV) industry continued to demonstrate strong competitiveness in the global market. As global attention to environmental protection and sustainable development increases, the EV market is rapidly expanding. With its vast production capacity and policy support, China has quickly become a leader in the global EV market. This article provides a detailed analysis of the global competitiveness of Chinese EVs in the first half of 2024, covering data on brands, models, sales markets, export quantities, and global market share.

I. Overview of the Chinese EV Market

In the first half of 2024, China exported approximately 605,000 electric vehicles, accounting for over 30% of the global EV export total. This figure is significantly higher than the same period in 2023, indicating the continuous growth of Chinese EVs in the global market. As global demand for low-carbon emissions increases, the market share of EVs is gradually expanding. China, as the world’s largest EV producer and exporter, is further consolidating its leading position in this field.

II. Performance of Major EV Brands

1. BYD
   • Export Volume: 207,000 units Main Markets: Europe, Southeast Asia, South America Models: BYD Han, BYD Tang, BYD Yuan, etc.Market Share: 34% of China’s total EV exports
   BYD continues to lead the Chinese EV export market, gaining widespread recognition in multiple international markets with its diverse models and innovative battery technology. Particularly in the European market, BYD’s Han and Tang series have performed outstandingly in the mid-to-high-end electric sedan market.
2. Tesla China
   • Export Volume: 150,000 units
   • Main Markets: Europe (especially Germany and the Netherlands), Asia-Pacific region
   • Models: Model 3, Model Y
   • Market Share: 25% of China’s total EV exports
   Although Tesla is an American brand, its manufacturing base in China produces a large volume of EVs for export. Tesla’s Model 3 and Model Y are especially popular in the European market, standing out in fierce competition due to their high cost-performance ratio and brand influence.
3. SAIC Motor
   • Export Volume: 120,000 units
   • Main Markets: UK, Norway, Thailand
   • Models: MG ZS EV, Roewe Ei5
   • Market Share: 20% of China’s total EV exports
   SAIC Motor has achieved significant success in the European and Southeast Asian markets through its MG brand. The MG ZS EV has become a best-selling model in several countries, and the Roewe Ei5 is also highly competitive in terms of cost-performance.
4. Geely
   • Export Volume: 80,000 units
   • Main Markets: Sweden, Germany, Malaysia
   • Models: Geometry C, Lynk & Co 01 PHEV
   • Market Share: 13% of China’s total EV exports
   Geely performed excellently in the first half of 2024, rapidly rising in the European market, especially with the support of its acquired brands Volvo and Lynk & Co.
5. NIO
   • Export Volume: 50,000 units
   • Main Markets: Germany, Norway, Netherlands
   • Models: ES8, ET7
   • Market Share: 8% of China’s total EV exports
   NIO has gained increasing recognition in the European market with its high-end electric SUVs and sedans. Its battery swap station model has also attracted widespread attention internationally, helping it secure a place in the luxury EV market.

III. Global Market Performance

In the first half of 2024, the main markets for Chinese EV exports included Europe, Southeast Asia, and South America. Europe is the largest market for Chinese EV exports, accounting for nearly 50% of the total export volume. In the European market, Germany, Norway, and the Netherlands are the main importers of Chinese EVs. Germany, as the largest car market in Europe, has a strong demand for high-performance EVs, which Chinese brands are well-positioned to meet.

Southeast Asia and South America are also important export destinations for Chinese EVs. Due to government policies in these regions encouraging the development of EVs and the competitive pricing of Chinese EVs, demand in these markets is rapidly growing.

IV. Technological and Product Competitiveness

Chinese EV manufacturers have strong technological advantages in battery technology, electrification platforms, and intelligent configurations. BYD’s blade battery technology and CATL’s lithium iron phosphate batteries are widely popular in the global market. Meanwhile, emerging brands like NIO and XPeng are enhancing their products’ added value through smart driving technology and innovative user experiences.

These technological advantages not only enhance the competitiveness of Chinese EVs in the international market but also drive the progress of global EV technology. Chinese-made EVs are leading internationally in terms of cost-performance, range, and safety.

V. Policy Support and International Competition

The Chinese government plays a crucial role in the development of the EV industry. Through subsidies, tax reductions, and infrastructure construction, China’s EV industry has rapidly developed. These policies have not only promoted domestic market growth but also provided strong support for Chinese EV exports.

However, as global market competition intensifies, Chinese EV manufacturers also face challenges from other countries. For example, traditional European automakers are increasing their investments in EVs, and the US is supporting its domestic EV industry through policies like the Inflation Reduction Act (IRA). Therefore, Chinese EV manufacturers need to continuously improve their technology and brand competitiveness to meet challenges in the international market.

Conclusion

In the first half of 2024, China’s EV industry continued to demonstrate strong competitiveness in the global market. With its vast production capacity, advanced technology, and strong policy support, Chinese EV manufacturers have achieved significant success internationally. However, as international market competition intensifies, Chinese manufacturers also need to innovate and progress continuously to consolidate their leading position in the global EV market. The future of China’s EV industry remains promising, but it also faces many challenges, requiring continuous breakthroughs in global competition.