Sales of electric cars in China continue to grow rapidly. It is even expected that a third of car sales this year will be supplied by electric cars, including hybrid cars.
Launching the Carscoops page today, Sunday, April 22 2023, China has established itself as the largest electric car market in the world with more than 200 manufacturers.
As many as 9 million New Energy Vehicles (NEV) are expected to be sold in China this year. The total new car market also swelled 3 percent to 27.6 million units.
"This year there will be new energy vehicles increasing to close to 10 million units, and the volume in 2035 will be at least 25 million units and they will account for 80 percent of all new vehicles sold," said Professor of Automotive Engineering at Beijing Tsinghua University, Ouyang Minggao.
Discounts on hybrid and electric cars have contributed to a boom in China's auto sales. Moreover, recently Tesla and several other manufacturers have lowered the price of their products. This means that electric cars will be more accessible to buyers in China than ever before.
China has opened up a huge market for mid-priced electric cars. Previously, most EVs in China were outrageously expensive.
China's main advantage over other countries is the fact that electric car battery manufacturers in the country account for 70 percent of the global market.
