China’s role in the global electric vehicle (EV) market
China’s role in the global electric vehicle (EV) market is highly significant, as it continues to dominate both domestic and international sales. Here are key points highlighting China’s impact:
Global Market Share
- Production and Sales: China accounts for more than 50% of global EV production and sales, making it the largest EV manufacturing and sales market worldwide.
- Plug-in Hybrid Vehicles (PHEVs): In January 2025, China held a massive 73.1% share of the global PHEV market, vastly surpassing other countries like the US with 4.5%.
Export Market
- Export Growth: China is a major exporter of EVs, with its exports growing at an average annual rate of 292% from 2019 to 2022, positioning it as the second-largest exporter behind Germany.
- Global Influence: China’s dominance in EV exports reflects its strategy to leverage its domestic supply chain and pricing advantages to expand globally.
Domestic Market
- Market Leadership: Top Chinese manufacturers like BYD, NIO, and XPeng continue to surge ahead in innovation and sales, leading domestic demand and international expansion.
- Government Support: Government incentives and strong domestic demand have significantly fueled the rapid growth of China’s EV market, contributing to its global influence.
Market Comparison
- Market Share Comparison: In 2024, battery-electric vehicles (BEVs) accounted for 27% of the automobile market share in China, compared to 13% in the EU and 8% in the US.
Overall, China’s influence in the global EV market is substantial, driven by its large production capacity, dynamic domestic market, and growing export presence.
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