Chinese EV market is expected to have a 25% sales share

The appetite for EVs is soaring, according to global surveys. The Chinese EV market is growing particularly rapidly. With 3.3 million EVs sold in 2021.

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The world’s most populous country already is the biggest EV market in the world, but in 2022 we expected it to overtake Europe in terms of the share of the overall car sales.

This is also reflected in production figures of regional market leader BYD exceeding Tesla’s in the first half of 2022 (654,000 vs. 564,000, respectively).

China is expected to hit a key milestone in 2022 with one in four new cars being electric, whereas Europe is expected to remain slightly below that figure.

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BEV & PHEV sales share | BNEF/ING

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