On June 17, according to Reuters, the research company International Council on Clean Transportation (ICCT) released a report stating that Chinese automakers are rapidly taking the lead in the global zero-emission vehicle (ZEV) market.
Geely Automobile
ICCT stated in the report that China plays a key role in the global electric vehicle transformation process. China's annual electric vehicle sales have exceeded 11 million units, accounting for more than half of global electric vehicle sales. Market research firm Rho Motion previously said that China's monthly electric vehicle sales exceeded the 1 million mark for the first time this year, driven by strong domestic demand and targeted export policies by Chinese manufacturers.
According to ICCT data, Chinese automakers occupy the top five spots in terms of zero-emission vehicle category coverage and five of the top six spots in terms of electric vehicle sales share. Among them, the sales volume of electric vehicles of Geely, SAIC and other companies has reached 50%, reaching the original target of 2025 one year ahead of schedule.
ICCT also stated that in 2024, BYD's global pure electric vehicle sales will surpass Tesla for the first time, with pure electric vehicle sales increasing by 25% year-on-year, and combined sales of pure electric vehicles and plug-in hybrid vehicles increasing by 47% year-on-year. The agency added that both BYD and Tesla are included in the "Leaders" category of its rating system.
Drew Kodjak, president and CEO of ICCT, said: "As Chinese automakers expand globally, other leading global automakers are facing urgent pressure to accelerate their own transformation or risk losing their competitive advantage."