China is the world’s leading market for electric vehicles, and 2023 has only confirmed this claim. According to the China Federation of Personal Car Manufacturers (CPCA), no less Last year, 6.1 million 100% electric cars were sold.

In addition to fully electric cars, hybrid models have also been quite successful, with more than 2.7 million units sold, according to CPCA.

Local brands are a hit

China’s entire automotive market saw significant growth, with 21.6 million passenger cars sold in 2023, up 5.6% from last year. This growth is partly due to the emergence of numerous local brands that compete with (if not surpass) foreign manufacturers.

In December 2023 the Chinese manufacturer BYD retained its position as the leader of the electric car market in China, with more than 340,000 vehicles sold, far outpacing Tesla, which sold about 94,000 units. Also, let’s recall that in the fourth quarter of 2023, BYD overthrew Tesla as the world’s largest seller of electric vehicles, although Tesla remains the leader throughout the year.

China exports more and more

China’s electrified vehicle exports have grown significantly in 2023, reaching 3.5 million units, up 27% from the previous year. This also includes Teslas made in China but intended for other markets.

China’s electricity market has grown exponentially in recent years, in part due to purchase subsidies that were phased out at the end of 2022. To maintain momentum, Chinese automakers waged a price war in 2023.

According to Canalys, in 2022 59% of electric cars sold worldwide come from China.

Read also:
ZFE: According to some, they would benefit the auto industry
ZFE radars: how to spot them accurately?
ZFE: What is the future impact on our way of life?