China’s electric vehicle (EV) companies have now gained tremendous momentum in the global market. According to a new report by the International Council on Clean Transportation (ICCT), China is now selling more than 11 million EVs annually,that is, more than half of the world’s total EV sales are from China alone.
The biggest reason for this growth is China’s huge domestic market, which has given companies the opportunity to work on a large scale, improve technology and lead at the international level. Companies like Geely and SAIC have already touched the 50% mark in EV sales, which was their 2025 target.
The biggest turning point came in 2024, when BYD overtook Tesla to become the world’s largest battery-electric vehicle (BEV) selling company. BYD’s BEV sales grew 25%, while BEV and plug-in hybrid sales grew 47%. However, ICCT’s rating still places both BYD and Tesla in the “Leaders” category.
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The report also said that companies have now made significant improvements in charging speed, driving range and energy efficiency through new high-performance EV models. Brands like GM and Honda have also started upgrading their limited EV range.
Meanwhile, the report was also special for the Indian company Tata Motors. For the first time, Tata has moved out of the “laggard” category and reached the “transitioner” group, due to new EV models and big steps towards battery recycling.
An interesting aspect has also been added to the new report, the use of green steel. Steel is the second biggest polluting source in EV manufacturing after batteries. European companies such as Mercedes-Benz, BMW and VW scored the best in this regard because these companies are using steel made from renewable energy.
According to ICCT CEO Drew Kodjak, “China’s rapidly changing EV market is no longer just a preparation for the future, but a real test of today’s global competition.”
Also Read: Xiaomi to Launch its YU7 Electric SUV In China In June
