Market Regulation UP! China is promoting “multiple points of power” to drive the development of high-quality new energy vehicles. The Chinese electric vehicle market is on track to grow significantly, with ambitious targets set for the coming years. As of March 30, 2025, the market is expected to see a substantial increase in the production of new energy vehicles.
Currently, the number of electric vehicles produced in China has skyrocketed, constituting 65% of the total production in the country, maintaining its position as the world’s leading market for electric vehicles for the tenth consecutive year. This growth is supported by various initiatives aimed at enhancing the quality and output of new energy vehicles.
The Ministry of Industry and Information Technology has indicated that by 2024, China’s total production capacity for electric vehicles is expected to reach 128.18 million units, marking an increase of 49.1% compared to previous years. Several companies are already gearing up for this expansion, focusing on advanced technologies such as fast-charging batteries and integrated electric drive systems.
Additionally, the government plans to support the development of electric vehicle infrastructure, emphasizing the need for rapid advancements in charging stations and battery technology. Recent statistics show that since March 28 of this year, the country has issued 1.769 million new energy vehicle license plates, while sales of these vehicles have also increased by 34% year-on-year.
The commercial sector is optimistic about the future, with expectations that sales will continue to rise as consumers increasingly shift towards electric vehicles. The government is committed to enhancing support for the new energy vehicle market to ensure sustainable growth and development.
In conclusion, the ongoing advancements in technology and supportive policies are set to propel the Chinese electric vehicle market to new heights, solidifying its status as a global leader in the transition to sustainable transportation.
