Chinese Electric Vehicles represent around 60% of global production and sales (at 12 million in 2024).

 

Domestic new energy vehicles have already reached 20 million and will quadruple to 80 million by 2030 (and almost treble to 90% of overall vehicle sales).

 

NIO and Xpeng have already surpassed 100,000 electric vehicle deliveries while BYD has even eclipsed Tesla for new energy vehicle sales and revenue and has innovated 5-minute battery charging technology which is at least double as fast as other global competitors.

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BYD had manufactured over 10 million EVs by 2024 and has developed and operates an entire self-sufficient industrial production chain from electric batteries to smart EVs to export ships. 

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China, led by CATL, is producing over 50% of global electric car batteries that will have a $40 billion domestic market from 4,800 GWh production by 2025.

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Almost $50 billion investment had already facilitated by 2020 almost five million charging piles (at over 50% globally) that had over-doubled to more than 11 million by 2024 (with around twenty-times the number of public charging piles to the US at almost 70% globally) and 12,000 charging stations that will treble to 36,000 by 2025 as part of a $19 billion electric charging equipment market.

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China will establish mass applicational production of L2/L3 autonomous vehicles by 2025 facilitated by 5G-V2C sustainable infrastructure (connecting up to 40 million vehicles already by 2020) creating a $32 billion market (at 50% of overall vehicles sales).

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Baidu has accumulated more than 10 million km of L4 autonomous vehicle testing with extension to at least 100 cities by 2024, including 30 for fully-driverless ride-hailing with two million robotaxi rides by 2023 and a more than 400 autonomous vehicle-fleet, while Didi will establish a 10-million electric vehicle taxi-fleet by 2028.

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Find out more about the future of Electric/Autonomous Vehicles in Digital Provinces Guide: Countdown to the Chinese Century, Dawn of the Digital Dragon Dynasty: Countdown to the Chinese Century, and Dawn of the Digital Dragon Dynasty: Global Economy in Shop.