Summary
China’s EV sales are set to surpass traditional car sales in 2024, leading the global market.
Honda and Nissan are merging to compete with China’s growing EV dominance.
Chinese automakers are diversifying into hybrid models to bypass EU tariffs.
China’s electric vehicle (EV) market is on track to surpass traditional internal combustion engine (ICE) car sales in 2025, a milestone that will solidify China’s position as the world’s leader in electric mobility. According to China Passenger Car Association (CPCA), EV sales in China will exceed 10 million units in 2024, more than double the number sold in 2022. This rapid adoption is indicative of the strong domestic demand for electric vehicles, driven by government incentives, environmental policies, and an increasing shift in consumer preferences toward sustainable mobility.