Electric Car Sales Growth In China Sparks Industry-Wide Change

This article comes to us courtesy of EVANNEX, which makes and sells aftermarket Tesla accessories. The opinions expressed therein are not necessarily our own at InsideEVs, nor have we been paid by EVANNEX to publish these articles. We find the company’s perspective as an aftermarket supplier of Tesla accessories interesting and are happy to share its content free of charge. Enjoy!

Posted on EVANNEX on January 13, 2022, by Matt Pressman

China has emerged as a world leader in electric vehicle adoption in recent years. And it turns out 2021 was no exception. According to the Wall Street Journal, “China’s car market snapped a three-year decline last year, helped by strong sales of electric vehicles.”

“Helping drive growth in China were robust sales of electric and plug-in hybrid cars, which last year accounted for 15% of overall passenger-car sales. Sales of these new-energy vehicles more than doubled to 2.99 million vehicles… [EV] brands such as Xpeng and NIO along with Tesla showed record sales last year,” reports WSJ.

This wasn’t the case, however, for many gas-powered traditional automakers in China. “Volkswagen AG, the biggest foreign brand in China, said its group sales in the country declined about 14%.” Other legacy brands declined including, “Nissan Motor Co.’s sales [which] fell 5.2%, and Honda Motor Co.’s dropped 4%.”

Meanwhile, “U.S. electric-vehicle maker Tesla sold more than 470,000 cars made at its Shanghai factory last year, around a third of which were exported, data from the association showed. Tesla said last week that it delivered more than 936,000 vehicles globally in 2021,” reports WSJ.

  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share on Flipboard
  • Share on Reddit
  • Share on WhatsApp
  • Send to email

Source: Read Full Article