Rho Motion - a company specializing in forecasting and analyzing the energy transition context, said that electric vehicles of Chinese brands account for 76% of global sales in 2024. This achievement is thanks to a strong expansion strategy into new markets.
The largest market share of electric vehicles belonging to Chinese brands in the foreign market is Brazil (82%), Thailand (77%), Indonesia (75%), Nepal (74%), Mexico (70%, Malaysia (52%),...
In Europe, the market share of Chinese brands varies depending on the country. In Europe's largest auto market (Germany), Chinese manufacturers account for about 4% of the 578,000 electric vehicles sold in 2024. This figure is slightly higher than in the UK and France, where they account for 7% and 5% of total electric vehicle sales, respectively.
In the Dutch, Swedish, Norwegian, and Belgian markets, Chinese electric vehicles account for 6%, 5%, 8% and 3% of the market share, respectively. Meanwhile, in Spain and Austria, where the market share of Chinese car brands also accounts for 10% and 11%, respectively.
This success is due to many of these countries not having a strong local auto industry, making it easier for Chinese brands to dominate the market.
In addition, China's electric vehicle industry has benefited from at least $231 billion in government subsidies and aid in 2009-2023. This significant financial support has helped China's electric vehicles and charging hybrids become more affordable than traditional automakers' vehicles, giving them a competitive edge.
According to research by Rho Motion, electric vehicle sales in 2024 compared to 2023 recorded the largest growth in China, with 11 million units sold (up 40%). Meanwhile, globally, there are a total of 17.1 million vehicles sold (up 25%).
But in large regions such as the EU, EFTA and the UK, sales reached 3 million vehicles (down 3%), while the US and Canada sold a total of 1.8 million vehicles (up 9%). In the rest of the world, sales were 1.3 million vehicles (up 27%).
Regarding electric vehicle sales in 2025, Rho Motion forecasts that there will be more than 20 million units sold globally, with the Chinese market accounting for 12.9 million units. Other large regions will also see double-digit increases.
