An intelligent charging robot charges a new energy vehicle (NEVs) at a smart charging service station in the Jindong district of Jinhua, East China's Zhejiang Province, on October 30, 2024. China's NEV ownership reaches 24.72 million by end of June, data showed. Photo: VCG

China's new-energy vehicle (NEV) sales accounted for 70 percent of the world's total sales between January and November, head of China's passenger car association said on Thursday. 

The percentage was 52 percent in 2021, 63 percent in 2022, 64 percent in 2023 and 69.6 percent in the first 11 months of 2024, demonstrating a clear trend of acceleration and expansion, Cui Dongshu, secretary general of the China Passenger Car Association said, highlighting that China's growth pace surpassed the global average growth rate.

From October to November, new-energy passenger car sales in China accounted for 76 percent of total global sales, Cui wrote in an online post.

The robust performance by China stands in contrast with lackluster NEV performance in the EU and US markets against the backdrop of slowing global NEV growth highlighted by increased supply of fuel-powered cars, depletion in potential EV buyers and worries by mainstream consumers over charging infrastructure, battery life and insurance costs, Cui said in the post. 

BYD, China's leading NEV brand, announced on Wednesday that in 2024, its battery-powered car sales reached 1.76 million units and that it is "narrowing its gap with Tesla Inc, as the two vie for the title of top-selling EV brand in the world," according to Bloomberg. 

Previously, BYD beat Tesla in EV sales in the third quarter of 2023.

BYD sales in December were boosted by an ongoing government automobile trade-in program, which benefits domestic and foreign brands in China alike. Nearly 2.7 million vehicles have been scrapped and replaced nationwide, with 3.1 million having been traded in as of December 19, according to China's Ministry of Commerce.

The EU market saw weak NEV sales performance in 2024, due to a high base figure, receding subsidies and the wrongful tariff measures the EU imposed upon Chinese-made EVs, Cui said.

According to the statistics of the International Energy Agency, to realize carbon neutrality, total global EV sales will need to reach 45 million in 2030.

As the key to solving climate change is the radical transformation of growth models, the international community needs to work together to speed up energy transition in a fair, orderly and just way, foster a free and fair international environment for green and low-carbon investment and trade and technology cooperation to boost a global green and low-carbon transition, Chinese Foreign Ministry spokesperson Lin Jian told a regular press conference on November 15.

Global Times