Breaking the world record! China's annual production of new energy vehicles exceeds 10 million units for the first time.
Categories： News Center
Categories： Industry News
Time of issue：2024-11-15 07:16
A reporter from the Global Times learned from the China Association of Automobile Manufacturers that in 2013, China officially included the production and sales of new-energy vehicles into its statistical system for the first time—though the annual output that year was only 18,000 units. Since then, China's NEV production has steadily accelerated, surpassing 1 million units in 2018, 5 million in 2022, and reaching a milestone of 10 million units in 2024.
On the morning of the 14th, at the event marking China's achievement of producing 10 million new-energy vehicles in 2024, held in Wuhan, Hubei Province, Xin Guobin, Vice Minister of Industry and Information Technology, stated that from the initial large-scale rollout under the "Ten Cities, Thousand Vehicles" program in 2009 to surpassing one million units in annual production and sales by 2018, China took nearly 10 years. Then, it took about 4 more years to reach over 5 million units in annual output and sales by 2022. Most recently, this year saw China’s annual production exceed 10 million vehicles for the first time—accomplished in just around 2 years. During the event, Fu Bingfeng, Executive Vice Chairman and Secretary-General of the China Association of Automobile Manufacturers, remarked that this new milestone represents a solid step forward as China transitions from being a major automobile producer to becoming a global automotive powerhouse, signaling the start of a new phase of high-quality development for the country’s burgeoning new-energy vehicle industry.
With the successive rise of China's new-energy brands, coupled with supportive domestic industrial policies, China has rapidly emerged as the world's largest producer and consumer of new-energy vehicles in a short span of time. In 2015, China's production and sales of new-energy vehicles surged to the global top spot—and have maintained that position ever since. According to data from the China Association of Automobile Manufacturers, in 2023, China's share of global new-energy vehicle production and sales had already surpassed 60%.
According to the latest data from global market research firm Rho Motion, global sales of new energy vehicles grew by 35% year-on-year in October, with China experiencing an even sharper surge of 54%, driving growth across the global market. Rho Motion analysts note that, as the two seasonal peak sales months of November and December approach, China's electric vehicle market shows no signs of slowing down.
On the morning of the 14th, Xin Guobin, speaking at the event venue, also pointed out that the world is currently witnessing an accelerated evolution of a century-long transformation, with a new round of scientific and technological revolution and industrial changes thriving vigorously. As a result, the global automotive industry is experiencing dramatic and profound shifts in technology, products, business models, and ecosystems—changes that call for deeper innovation and broader collaboration to tackle development challenges and jointly share the fruits of growth. Meanwhile, amid rising global trade protectionism, the normal international economic and trade order is being disrupted and affected. Increasing uncertainties are emerging in overseas markets, while China's domestic industries are also grappling with issues such as uneven market penetration and disorderly competition. These challenges require careful analysis and proactive responses. (Source: Global Times)
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