Chinese electric vehicle (EV) brands are making waves globally. In the first half of this year, 6.161 million EVs (including plug-in hybrids) were registered worldwide, a 41.7% surge according to SNEResearch. Leading the charge is BYD, boasting sales of 1.287 million units and a staggering 20.9% global market share.
Tesla follows closely, selling 889,000 units, up 57.4%, but capturing a 14.4% market share. Notably, Tesla focuses solely on pure EVs, while BYD offers both pure EVs and plug-in hybrids, intensifying competition in the pure EV market.
China’s SAIC Group clinches the global top three with 461,000 units sold, marking a 27.7% increase and a 7.5% market share. Geely Auto also impresses, securing a spot among the top five. These achievements underscore Chinese brands’ prowess in the EV sector and global consumer trust in Chinese manufacturing.
Regionally, China leads the global EV market, selling 3.571 million units in H1, a 42.7% surge and 58% of the global market share, far surpassing Europe and North America.
In North America, the EV market grows steadily with a 12.3% market share. However, Europe’s growth lags due to reduced subsidies and rising charging costs.
Among the top 10 global EV brands, China holds four spots: BYD, SAIC Group, Geely Auto, and GAC Trumpchi. These brands excel domestically and are gaining traction internationally. Yet, globalizing remains a challenge, necessitating enhanced product competitiveness and international market expansion.
Traditional Japanese brands like Toyota and Honda lag in the EV sector, highlighting the importance of innovation and market adaptation for maintaining competitiveness in the new energy vehicle landscape.
