EV Sales Boom in China

EV sales in China hit a record in June with nearly 596,000 EVs sold, surpassing the previous record of 531,000 EVs in December 2021, according to China Association of Automobile Manufacturers (CAAM).

June sales were up almost 133 per cent on an annual basis and more than 33 per cent on the month. Thus, the total number of EVs sold in the country surpasses two and a half million, close to a 130 per cent year-on-year increase, said Abhishek Murali, senior analyst at research firm Rystad Energy.

This is a massive jump given the poor performance in April and highlights the ability of the Chinese market to sharply bounce back and bring production to pre-coronavirus-lockdown levels quite quickly. China is expected to sell close to 6 million EVs for the year and this bounce back indicates a strong H2 for the country,

Murali told The National.

Globally, nearly 6.4 million EVs are expected to be sold this year, 1.6 million more than in 2021, the Rystad Energy says.