Some Facts and Numbers You Shall Know About Chinese Auto Industry
- China has, according to the New York Times, the capacity to produce over 40 million internal combustion engine (ICE) cars a year. Goldman Sachs thinks China will also have the capacity to produce around 20 million electric vehicles by the end of 2024.
- In 2024, China makes nearly one third of all cars in the world, nearly two thirds of all electric vehicles, and 70% of EV batteries.
- There are currently about 241 brands in the Chinese automobile market. Among them, 119 are Chinese EV brands.
- 1,493 car models(excl. imports) were sold in China in 2024.
- 236 new cars launched in China in 2024
- BYD has 30+ models(not counting different propulsions for each model)
- In 2024, Chinese vehicle exports increased by 19.3% to 5.86 million vehicles. These exports included 4.96 million passenger cars (+19.7%) and 900,000 commercial vehicles (+17.5%). Of all Chinese vehicle exports in 2024, nearly 1.3 million were NEV (+7%) including 987,000 all-electric cars (BEV).
