Electric vehicle sales in China H1 2020, by OEM
Climate change has been a global matter of concern for some time now. While some countries debate the existence of this issue, others are rapidly working towards turning the clock back and saving the planet. One of the solutions to countering the emission of greenhouse gases and the depletion of the ozone layer has been the development of electric vehicles. In the first half of 2020, BYD sold over 0.06 million electric vehicles in China.
Global EV production and sales
Back in 2019, the global market for electric vehicles was worth 115 billion U.S. dollars with forecasts predicting a fivefold growth in value by 2026. Of the two kinds of electric vehicles produced, the battery operated variety has flooded markets and gained popularity in countries such as China, the United States, and Norway. Norway also held the largest market share of plug-in hybrid electric vehicles in 2019, accounting for 13.6 percent of new vehicle sales.
China’s EV market
Not only is China an avid consumer of electric vehicles but also an enthusiastic producer leading the global EV market. China’s new energy passenger vehicle sales boomed as battery electric vehicles took over a majority of the market. Among the many original equipment manufacturers in China, BYD is the most popular brand.
Issued on 27 Dec 20