BYD might just be the titan of the electric vehicle industry!
Chinese electric car manufacturer BYD, by enhancing its performance within a year, ascended to become one of the most crucial figures in the industry.
With the continued global expansion of the electric vehicle (EV) market, China has notably risen to the forefront. In May alone, an extraordinary increase was observed in the registration of new passenger plug-in electric cars, as per data from EV Volumes. A total of 614,361 units were registered in China, indicating a substantial 54 percent growth compared to the previous year.
As impressive as this figure is, it's even more striking that more than a third of all new cars in China are now plug-in electric vehicles. The sales of rechargeable cars in May accounted for about 35 percent of all new passenger car sales, a figure that surpasses that of Europe and the United States. This indicates China's undeniable dominance in the global plug-in car market, as the nation accounted for a notable 60 percent of the total global plug-in car registrations in May.
BYD might just be the titan of the electric vehicle industry!
Among the available types of EVs, Battery Electric Vehicles (BEVs) appear to be the preferred choice among Chinese consumers. They outsold Plug-In Hybrid Electric Vehicles (PHEVs) by a ratio of more than 2:1, with BEV sales exceeding 400,000 units in May. This represents a significant 24 percent share of the total market.
Cumulative results from the year to date further highlight China's position in the EV industry. Over 2.5 million new plug-in electric cars have been registered in the country thus far, making up about 35 percent of the total volume and showing a remarkable 41 percent increase over the previous year.
The BYD, a Chinese automaker, has stood out in this thriving market. The BYD Qin Plus, offering both BEV and PHEV versions, was the top-selling model in May, closely followed by the BYD Song Plug family. Tesla's Model Y emerged as the most popular all-electric car. At the brand level, BYD outshone its competitors, such as Tesla, GAC Aion, SAIC-GM-Wuling, and Li Auto, by capturing 36.0 percent of the market, thus becoming the most sought-after brand and automotive group in China's EV market.
Nothing Phone (2) receives its first comprehensive updateMobile
