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China's Electric Revolution: Leading the Future with NEVs

By ALEX REPORTERFYGAOWEI ZHANGXUANQI YUAN|Jan 16,2024

China has firmly established itself as the world's largest vehicle market since 2009. The year 2023 marked a milestone for both local and international automakers operating in China, as they collectively manufactured an unprecedented 30.16 million vehicles and achieved a record delivery of 30.09 million units. These figures represent a robust increase of 11.6 percent and 12 percent over the previous year, respectively.

Significantly, China overtook Japan to become the world's top auto exporter. The former witnessed a staggering 57.9 percent year-on-year increase, exporting 4.91 million vehicles in the last year alone.

A key driver of this remarkable performance in the Chinese auto market has been the burgeoning popularity of new energy vehicles (NEVs). The statistics are telling: approximately 9.6 million electric vehicles (EVs) and plug-in hybrids were produced in China in 2023. Sales for these NEVs reached an impressive 9.5 million, marking a year-on-year surge of 35.8 percent and 37.9 percent, respectively.

In 2023, NEVs constituted a substantial 31.6 percent of total vehicle deliveries, up by 5.9 percentage points from the previous year. Notably, EV sales alone totaled 99,972 units last year, skyrocketing by 138 percent compared to the previous year and accounting for about 30 percent of the brand's global EV sales.

In our latest episode, we embark on a thrilling test drive of two cutting-edge NEVs. Each of these vehicles showcases exceptional performance and features emblematic of China's advanced technological capabilities in the automotive industry. So, buckle up and join us on this exhilarating journey into the future of automotive innovation.


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