Electric vehicle sales in China increased to 154% last year, despite a global slowdown in auto sales due to a crunch in semiconductor supplies across Globe, according to Fortune. The sales increased as more consumers opted for greener cars due to the rise in fuel costs and health issues due to environmental concerns.
According to industry analyst ZoZo Go, the sales figure of electric vehicles (EV) in China has increased from 1.3 million units in 2020 to 3.3 million units in 2021. In contrast, the increase in the previous year was approximately 100K units (EV sales in 2019 was 1.2 million).
As per Seeking Alpha, EV sales worldwide showed a modest increase of 69% in the first 11 months, with China registering a growth figure of more than double of the Worldwide figure.
The Shenzhen-based BYD, backed by Warren Buffett, grabbed the top slot in Chinese market, producing 603,783 units—up 218% on 2020. Meanwhile, Tesla came as distant second in China, with an estimated 240,000 vehicles during 2021. The Chinese market has been significant for Tesla, as it has a 26% share of the Texas-based company’s global sales.
Tags: BYD, China, Electric Vehicle, EV, Tesla
