Chinese electric vehicle market grew 145.0 percent annually in Q1 2022

According to Researcher and Research LLC, China's electric vehicle (EV) market reached 1.131 million units in the first quarter of 2022, with an annual growth rate of 145.0%. Its share of the global EV market grew to 56.5% from 39.4% in the same period last year. Except for maintaining its position as the world's largest EV sales market, China also had the highest year on year (YoY) growth rate among the global top 10 EV countries. The sales proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 79.4% and 20.6%, respectively, and compared with 84.2% and 15.8% in the same period of 2021, PHEV showed significant growth. EV and BEV penetration rates reached 21.9% and 17.4%, respectively, over doubling from 9.1% and 7.7% in the same period last year. In terms of best-selling models, the top 20 sold a total of 662,129 units, with a market

2022-04-26T20:36:55-07:00April 25th, 2022|Categories: Global EV Snapshot|Tags: , |

US electric vehicle market with high automaker concentration

Since the outbreak of Covid 19 in the first quarter of 2020, the global auto market has continued to face the impact of supply chain constraints, and the Russian invasion of Ukraine and inflation have exacerbated supply chain risks this year. The United States, the world's second-largest auto market after China, has undoubtedly been affected, with its passenger vehicle market showing negative growth year-over-year in all but five months from March to July 2021. In contrast, the annual growth rate of the US electric vehicle (EV) market outperformed the overall auto market by a wide margin, as shown in figure 1.   Figure 1  Monthly annual growth rates for EV and passenger vehicle in the US   The US EV market is the second-largest globally, but its size is far smaller than that of China. For example, in February this year, the Chinese market accounted for 39.3% of the

2022-04-09T05:02:11-07:00April 11th, 2022|Categories: Global EV Snapshot|Tags: , |

China’s electric vehicle market ranked first in size and growth among the global top ten sales countries in February 2022

According to Researcher and Research LLC, China's electric vehicle (EV) market reached 295,502 units in February 2022, with an annual growth rate of 182.8%. Its share of the global EV market grew to 54.3% from 36.8% in the same period last year. Except for maintaining its position as the world's largest EV sales market, China also had the highest year on year (YoY) growth rate among the global top 10 EV countries. The sales proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 76.5% and 23.5%, respectively, and compared with 85.2% and 14.8% in the same period of 2021, PHEV showed significant growth. EV and BEV penetration rates reached 21.9% and 16.7%, respectively, over doubling from 8.9% and 7.6% in the same period last year. In terms of best-selling models, the top 20 sold a total of 166,457 units, with a market share of 56.3%, a

2022-03-25T21:15:34-07:00March 28th, 2022|Categories: Global EV Snapshot|Tags: , |

Japan became the global top ten electric vehicle sales country for the first time in January 2022

As a member of the R-N-M Alliance, the Japanese carmaker Nissan began selling the Nissan Leaf electric vehicle (EV) a decade ago and has become one of the world's longest-selling battery electric vehicle (BEV) models. However, the Japanese government and automakers appear to be overly conservative in their stance on the development of the EV market compared to the other major auto industry powers and automakers. They strongly support hybrid cars as the most logical option for Japanese automakers and their auto market to transition from petrol cars to EVs. Therefore, Japanese carmakers have not been active in EV sales in recent years, and the development of the domestic EV market in Japan is relatively slow. According to Researcher and Research LLC, Japan was the world's fourth-largest auto market with 2.399 million passenger cars sold in 2021, just behind China with 20.857 million, the US with 14.936 million, and Germany

2022-03-13T05:54:29-07:00March 14th, 2022|Categories: Global EV Snapshot|Tags: , , , , , , , , , |

China accounted for around 60% of global electric vehicle market in January 2022

According to Researcher and Research LLC, China's electric vehicle (EV) market reached 380,001 units in January 2022, with an annual growth rate of 137.5%. Its share of the global EV market grew to 58.2% from 50.2% in the same period last year, maintaining its position as the world's largest EV sales market. The sales proportions of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV) were 79.3% and 20.7%, respectively, and compared with 84.1% and 15.9% in the same period of 2021, PHEV showed significant growth. EV and BEV penetration rates reached 17.8% and 14.1%, respectively, a significant increase compared with 7.6% and 6.4% in the same period last year. In terms of best-selling models, the top 20 sold a total of 220,389 units, with a market share of 58.0%, a significant decrease from 74.9% a year ago, mainly due to the decline in the share of the top-selling

2022-02-28T20:39:27-08:00February 28th, 2022|Categories: Global EV Snapshot|Tags: , |

The German electric vehicle market recorded negative monthly annual growth for the first time

In 2021, the German electric vehicle (EV) market was second only to China, with 681,410 units registered and an annual growth rate of 72.8%, making it the second-largest EV sales country globally and the largest in Europe.   Figure 1  Monthly EV registrations in Germany, 2020-2021   The German EV market was dominated by plug-in hybrid electric vehicle (PHEV) until August 2021, after which it was led by battery electric vehicle (BEV), as shown in figure 1. The proportion of BEV in the German market by month was over 50% in March, September, December 2020, and June and August-December 2021. We believe that this is because Tesla delivered a large number of cars in these months, leading to notably higher BEV sales figures than other months. On a full-year basis, the proportion of BEV and PHEV sales in the German EV market in 2021 was 52.2% and 47.8%, respectively,

2022-02-13T22:44:37-08:00February 11th, 2022|Categories: Global EV Snapshot|Tags: , |

Global electric vehicle market review and outlook 2021

According to Researcher and Research LLC, the global electric vehicle (EV) market reached 6.389M units in 2021, with an annual growth rate of 96.9%, the biggest growth in years, as shown in figure1. Figure 1  Worldwide EV sales   This is the result of a long history of policies used by many countries to push automakers to sell EV (e.g., the European CO2 emissions legal target), give subsidies to EV buyers (e.g., subsidies and local incentives in China), or encourage buyers with tax or related incentives (e.g., Federal Tax Incentives and State, Local and Utility Incentives in the US), the demand for EV has shown an obvious growth trend. However, the supply chain is the biggest obstacle to market growth in 2022, with key components such as chips and batteries still in short supply. Therefore, the EV market will face an unprecedented price rise this year, which will definitely

2022-01-28T05:16:21-08:00January 28th, 2022|Categories: Global EV Snapshot|Tags: , , |

Chinese electric vehicle OEMs harvested the Chinese market in 2021

According to Researcher and Research LLC, the electric vehicle (EV) market in China reached 3,231,362 units in 2021, with an annual growth rate of 143.2%. In terms of the sales proportion of battery electric vehicle (BEV) and plug-in hybrid electric vehicle (PHEV), the figures for 2021 were 82.6% and 17.4%, respectively, and were not much different from 82.1% and 17.9% in 2020. Figure 1  Monthly EV sales in China in 2021   The Chinese EV market is traditionally slow in February due to the Lunar New Year holiday, while the last month of each quarter is the peak of the season, and the fourth quarter is the peak sales season, as shown in Figure 1. With strong policy support, China's EV market showed a steady growth trend in 2021. In terms of penetration, China's EV penetration reached 15.1% in 2021, a significant increase from 5.7% in 2020. Among them,

2022-01-19T00:59:42-08:00January 19th, 2022|Categories: Global EV Snapshot|Tags: , |

Waymo cooperates with Geely to bring Chinese car into the US market

From Waymo’s announcement, it teams up with Geely to bring the Waymo One autonomous ride-hailing fleet in the US in the coming years. The product development is at Geely Zeekr’s R&D facility, CEVT (China Europe Vehicle Technology) center, in Sweden. Waymo will integrate its Waymo Driver into a robotaxi base from Geely’s SEA (Sustainable Experience Architecture) M platform. In addition, both Waymo and Geely have partnerships with other companies to develop self-driving cars. For example, Waymo is working with Stellantis and Jaguar in the US. Geely has cooperated with Baidu in China. Since Geely Zeekr are made in China, the Waymo One should be manufactured in China. But under consideration of the requirements of the US government, the production base will be highly likely in America. We think the reason why Waymo cooperates with Geely is that its ability of cost reduction, control of supply chain, and management of the

2022-01-14T05:13:46-08:00December 30th, 2021|Categories: Global EV Snapshot|Tags: , , , , |

Supply chain determines the development of electric vehicle OEMs

Global electric vehicle (EV) market growth exceeds expectations in 2021. According to Worldwide Monthly BEV & PHEV Tracker from Researcher and Research LLC, global EV sales volume in this year will be 6.389M units with a YoY growth of 97%. The growth of Chinese EV OEMs is extremely obvious, especially BYD, SAIC, Great Wall Motors, GAC, Xiaopeng, NIO, Chery Automobile, CHJ Automotive, Changan Automobile and Geely Auto Group, which have achieved considerable market shares. And it is worth noting that Chinese OEMs have successfully stepped out of the domestic market this year and made inroads around the world, and opened up the European market with entry-level models such as the hot sale of MG ZS EV. The control of battery metals brings China global advantage of EV supply chains. In addition, EV OEMs have clearly felt the tight supply of batteries in the future since Q3, and have signed supply

2022-01-14T05:14:15-08:00December 29th, 2021|Categories: Global EV Snapshot|Tags: , , , , , , |
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