Electric automakers from China are starting to realize the positive outcomes of their global expansion efforts as they dominate numerous countries, even against local brands. According to Xinhua, Made-in-China (MIC) models claimed a whopping 62.19% of Israel’s Q1 to Q3 2023 cumulative electric vehicle sales.
Chinese brands’ dominance
Israel’s overall EV sales reached 41,647 units from January to September, according to Israel Vehicle Importers Association’s data released on Monday. Chinese brands accounted for over half of that total, or 25,902 units. This remarkable sales performance enabled them to gain a market share of 62.19% in the same period.
In hindsight, Chinese electric automakers only reported sales of 13,294 units in 2022. They claimed a notable 48% of the country’s EV sales for that year.
Notably, China’s new energy vehicle (NEV) giant BYD currently leads the local industry with a total sales of 13,481 units this year to date.
As for the overall vehicle sales charts, BYD landed the top fourth spot. The brand’s strong sales are primarily driven by its popular electric SUV, Atto 3.
Apart from BYD, Geely Auto Group also had a strong performance in the first nine months of the year, with 6,180 Geometry C EV sales. It indicates a significant YoY increase of 45.28% from just 4,254 sales.
American EV giant Tesla managed to snatch the third spot with sales of 5,463 units. South Korean automaker Hyundai Motor followed with 4,099 unit sales, the report noted.
Israel’s electrification targets
The Times of Israel reported that the Israeli Government aims to register a total of 1.3 million electric vehicles by 2030 for a 30% share of the overall automotive market.
Israel plans to boost that target to 6 million units by 2050. For reference, the country currently has only 70,000 EV registrations, which accounts for just 2% of the overall auto industry.
It is a crucial part of the country’s efforts to cut CO2 emissions from the transportation sector.
“The transition to electric transportation is one of the most significant steps in the transition to a clean, efficient and emission-free energy economy and a major step in the fight against the climate crisis.
We will continue to accelerate the transition to electric transportation of the entire population, all over the country, by adjusting and simplifying regulations and promoting competition in this market.”
Ron Eifer, sustainable energy division head at the Energy Ministry
See Also:
- Israel projects to hit 30% electric vehicle market share by 2030
- Chinese electric automakers dominated the Israeli market from Jan to Aug
- Israel: BYD Atto 3 ranks third on the top-selling EVs in November
- Israeli EV fast charging developer inks deal for US distribution
- Tesla has delivered 10,000 vehicles to Israel
Chinese brands’ dominance in emerging EV markets like Israel is unsurprising, considering the affordability of their offerings. Although affordable, MIC models remain high quality with cutting-edge technologies and features.
That said, their penetration in the local market is a huge growth driver in the country’s automotive industry. They offer customers a wide range of options for varying needs and preferences.
