China's annual production and sales of new energy vehicles (NEVs) surpassed 10 million units for the first time in 2024, reaching 12.888 million and 12.866 million units, respectively.
Source: Xinhua News Agency
China's annual production and sales of new energy vehicles (NEVs) surpassed 10 million units for the first time in 2024, reaching 12.888 million and 12.866 million units, respectively. This milestone marks the 10th consecutive year that China has maintained its position as the world's largest NEV market, according to Zhang Yunming, Vice Minister of Industry and Information Technology. Zhang made the announcement on January 21 during a press briefing held by the State Council Information Office as part of the "Achievements in High-Quality Economic Development in China" series.
Over the past decade, China's NEV industry has grown from producing and selling just tens of thousands of units annually to over 10 million, with vehicles exported to more than 70 countries and regions. NEVs have become a key symbol of Chinese manufacturing prowess. The latest data revealed significant advancements in vehicle performance, industrial systems, and user convenience. For instance, the average driving range of NEVs in China now approaches 500 kilometers.
China has also established a complete and efficient NEV industrial ecosystem. The country supplies 70% of the world's battery materials and 60% of its power batteries. In addition, China has built the world's largest charging infrastructure network, comprising 12.818 million charging piles and 4,443 battery swapping stations. Fast-charging technology, capable of recharging batteries to 80% capacity in just 15 minutes, has also been commercialized.
Looking ahead, Zhang outlined several priorities for the NEV sector. These include accelerating breakthroughs in critical technologies such as next-generation battery systems, promoting trade-in programs for older vehicles, and extending tax incentives for NEV purchases. China also plans to release guidelines for advancing the battery swapping model, explore carbon emission and carbon footprint management for vehicles and power batteries, and push for international recognition of relevant standards.