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📊 China's Passenger EV Sales Surged by 29% YoY, Defying Subsidy Cuts

China's passenger electric vehicle (EV) market defied expectations by achieving robust growth of 29% year-over-year, according to Counterpoint, despite the discontinuation of China's New Energy Vehicle (NEV) purchase subsidy. Battery EVs (BEVs) dominated the market, accounting for nearly 70% of total sales, while plug-in hybrid EVs

Emmanuel Oyedeji profile image
by Emmanuel Oyedeji
📊 China's Passenger EV Sales Surged by 29% YoY, Defying Subsidy Cuts
Photo by myenergi / Unsplash

China's passenger electric vehicle (EV) market defied expectations by achieving robust growth of 29% year-over-year, according to Counterpoint, despite the discontinuation of China's New Energy Vehicle (NEV) purchase subsidy.

Battery EVs (BEVs) dominated the market, accounting for nearly 70% of total sales, while plug-in hybrid EVs (PHEVs) experienced an impressive surge of 88% in popularity.

Emmanuel Oyedeji profile image
by Emmanuel Oyedeji

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