May 31, 2024 04:35 AM
BUSINESS
Nine Out of Ten Cars Sold in China Will Be NEVs by 2035, Report Says
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In 2023, global NEV sales were more than 14 million units, with China accounting for about 9.5 million
What’s new: Vehicles powered by renewable energy will account for 90% of China’s new car sales by 2035, amounting to about 38 million units, an industry association said.
New energy vehicle (NEV) sales globally are expected to surpass 70 million units by 2035, or 70% of total cars sales, China Automotive Battery Innovation Alliance said in a report Thursday.
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- By 2035, 90% of China's new car sales will be NEVs, totaling about 38 million units annually.
- China is projected to account for 54% of global NEV sales by 2035, with Europe at 22% and the U.S. at 11%.
- Global power battery installation will reach 3,905 GWh in 2035, with China contributing 1,952 GWh.
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What Happened When
- 2023：
- Global NEV sales were more than 14 million units, with China accounting for about 9.5 million units.
- First quarter of 2024：
- China’s NEV sales increased 35% to 1.9 million units.
- May 30, 2024：
- China Automotive Battery Innovation Alliance released a report predicting global NEV sales to surpass 70 million units by 2035.
AI generated, for reference only
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