China's share of new energy vehicles in the world continues to skyrocket

China's share of global new energy vehicles continues to surge

It is understood that in the first half of the year, China's new energy passenger cars accounted for 59% of the world's new energy market, and Europe was the second largest market with a market share of 26%. my country's new energy market ranks first in the world, mainly because the domestic new energy vehicle supply is well guaranteed and the demand is strong, while the production and sales of traditional vehicles and new energy vehicles in Europe are relatively low. At the same time, China's new energy vehicle market has turned to market-oriented promotion, forming a strong endogenous growth momentum, thereby driving the world's growth.

Looking back at the global sales of new energy vehicles in the past decade, the growth rate is getting faster and faster. In 2012, the world had 1.58 million new energy vehicles in a broad sense, but by 2015, it was only 1.79 million, with slow growth; with the accelerated development of new energy vehicles starting in 2016, the broad new energy vehicles exceeded 2 million in 2016; reached 3.17 million in 2017; exceeded 4 million in 2018; reached 5.15 million in 2020; 9.77 million new energy vehicles in 2021; and 6.19 million new energy vehicles in a broad sense from January to June 2022. Among them, hybrid vehicles reached 1.83 million, accounting for 30%.

Cui Dongshu said that in terms of power, the development of new energy vehicles in the world started with hybrid power, and then gradually entered the era of battery-based vehicles, with pure electric and plug-in hybrid vehicles becoming the real policy support for new energy. The development of new energy vehicles in China also started with subsidies for ordinary hybrid power for buses and trucks. Then buses entered the pure electric era, and hybrid buses became history.

It is reported that hybrid passenger cars have gradually decreased from 93% of new energy vehicles in 2012 to 79% in 2015, and the proportion of hybrid vehicles has dropped by 10 percentage points each year since then. The hybrid market share fell by 1 percentage point in 2019, but began to decline rapidly in 2020, and the share still fell to 30% in 2022.

"In 2022, pure electric vehicles will continue to be strong in new energy vehicles, plug-in hybrids will gradually weaken, and ordinary hybrids will be relatively stable," said Cui Dongshu.

Regarding the market trends of new energy passenger vehicles around the world, Cui Dongshu analyzed that China's 3.31 million passenger cars in 2021 will surpass Europe's 2.18 million and North America's 700,000, and China has a clear advantage. China's sales in January-June 2022 were 2.51 million vehicles, including 2.34 million passenger cars, which is several times the 1.09 million in Europe and 500,000 in North America. China has a clear advantage.

In addition, Cui Dongshu analyzed that the penetration rate of new energy vehicles in the world is generally showing a rapid upward trend, reaching 10% in 2022, among which China's new energy vehicle penetration rate reached 22%, Germany reached 22%, Norway reached 71%, the United States was 7%, and Japan was 2%. Therefore, the imbalance of new energy development in the world is extremely obvious. However, as the United States increases the penetration of new energy, the world's new energy vehicles will enter a new stage of strong development. But in terms of penetration rate, my country has not reached the world's leading level, and there is huge room and potential for future development.

As new energy vehicles are developing at an unexpected speed around the world, China will have world-class new energy vehicle brands in the future. Industry insiders predict that global new energy vehicle sales are expected to exceed 10 million for the first time this year, with the sales volume in the Chinese market likely to be around 5-6 million. At the same time, the new energy vehicle market has also begun to gradually enter the era of vehicle model drive. This year, many new new energy vehicle models have been launched one after another, and these new models may become the core driving factor in the second half of this year.