Wedoany.com Report-Mar 10, China's new-energy vehicle (NEV) industry continues to gallop in 2025, with domestic retail sales hitting 686,000 units in February, marking a staggering 79.7-percent year-on-year growth, the China Passenger Car Association (CPCA) announced on Monday.
This photo taken on April 24, 2024 shows a new energy vehicle (NEV) assembly line of BYD, China's leading NEV manufacturer, at the plant of BYD in Zhengzhou, central China's Henan Province.
In February, NEVs accounted for 49.5 percent of all domestic passenger car sales, marking a 15-percentage-point increase year-on-year. Meanwhile, the cumulative NEV retail sales in January and February totaled 1.43 million units, reflecting a 35.5 percent year-on-year rise.
In February, the penetration rate of Chinese-made NEVs reached 70 percent in the market. The CPCA projected that, in March, China's passenger car market will maintain a momentum of strong growth, driven primarily by brisk NEV sales, and the traditional fossil fuel-powered vehicle sales will continue to contract in China.
The positive NEV market outlook is fuelled by the swift resumption of operations across industries following the 8-day-long Spring Festival holiday, expected to drive a strong month-on-month surge in production and sales in March, the CPCA noted.
The CPCA report highlighted the government’s policy support, constant technological advancements and consumption upgrades as key drivers of a buoyant NEV market in the country.
As Chinese automobile brands are now welcomed globally, maintaining a balanced approach to both fossil fuel and electric vehicles — rather than favoring one segment — will stabilize domestic and international auto sales while supporting the steady evolution of the supply chain, the report said.
China's well developed infrastructure has created favorable condition for the rapid growth of the NEV sector, Cui Dongshu, secretary general of the CPCA, told the Global Times on Monday.
He noted that the construction of charging piles in China has kept pace with the sales of electric vehicles, based on the estimate that one charging station can serve three vehicles.
“China now leads globally in building NEV charging infrastructure, offering a vast charging network and seamless accessibility,” said Cui. “The widespread deployment of charging stations has greatly enhanced user satisfaction among taxi drivers, ride-hailers, and private car owners.”
