Monthly new energy vehicle production in China 2021-2023, by type
In August 2023, a total of 589,000 battery electric vehicles (BEVs) were produced in China, of which 551,000 were passenger BEVs and 38,000 were commercial BEVs. In the same month, a total of 254,000 plug-in hybrid electric vehicles (PHEVs) were produced in China, of which 253,000 were passenger PHEVs and 1,000 were commercial PHEVs.
Rise of alternative energy vehicles
Faced with a rising demand for energy and an increasing amount of environmental issues in recent years, the new energy vehicle market has become one of the fastest-growing markets in China. New energy vehicles refer to vehicles that are partially or fully powered by electricity. They include battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), fuel cell electric vehicles (FCEVs) and other vehicles powered by alternative fuels.
New energy vehicles sales
In 2012, the Chinese government set plans to develop the new energy vehicle market, aiming at sales of 500,000 new energy vehicles by 2015 and five million by 2020. Fuelled by purchase incentives, new energy vehicle production exhibited a growing trend for all types available, particularly pure BEVs. Nevertheless, next to traditional automobile markets, the new energy vehicle market in China remains relatively small. In 2021, the market share of BEVs and PHEVs in China stood at 13.3 percent, with around 2.9 million units of BEVs sold annually compared to 0.6 million units of PHEV sold.
Rise of alternative energy vehicles
Faced with a rising demand for energy and an increasing amount of environmental issues in recent years, the new energy vehicle market has become one of the fastest-growing markets in China. New energy vehicles refer to vehicles that are partially or fully powered by electricity. They include battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), fuel cell electric vehicles (FCEVs) and other vehicles powered by alternative fuels.
New energy vehicles sales
In 2012, the Chinese government set plans to develop the new energy vehicle market, aiming at sales of 500,000 new energy vehicles by 2015 and five million by 2020. Fuelled by purchase incentives, new energy vehicle production exhibited a growing trend for all types available, particularly pure BEVs. Nevertheless, next to traditional automobile markets, the new energy vehicle market in China remains relatively small. In 2021, the market share of BEVs and PHEVs in China stood at 13.3 percent, with around 2.9 million units of BEVs sold annually compared to 0.6 million units of PHEV sold.
