China Sees Surge in New Energy Vehicles on the Roads
Shanghai (Gasgoo) – According to China’s Ministry of Public Security, as of the end of June 2024, the total number of motor vehicles in China has reached a staggering 440 million. This includes 345 million cars, with 24.72 million of them being new energy vehicles (NEVs).
During the first half of 2024, a total of 16.8 million new motor vehicles were registered nationwide, with 12.42 million of these being cars, marking a 5.7% year-on-year increase in registrations.
NEVs have been gaining significant traction in China, with the total volume reaching 24.72 million units by June. This accounts for 7.18% of the total number of cars in the country. Among these NEVs, battery electric vehicles (BEVs) make up the majority, with 18.134 million units, representing 73.35% of the total NEV volume in China.
The surge in NEVs is evident in the registration numbers, with 4.397 million new NEVs registered in the first half of the year, a remarkable 39.41% year-on-year increase. NEVs now make up 35.41% of all new car registrations in China.
With the increasing number of vehicles on the roads, China now boasts 96 cities with over 1 million cars, an increase of 8 cities compared to the previous year. Among them, 43 cities have over 2 million cars, and 26 cities have over 3 million cars. Major cities like Chengdu, Beijing, and Chongqing have over 6 million cars each, while Shanghai, Suzhou, and Zhengzhou have more than 5 million cars.
Moreover, the number of motor vehicle drivers in China has reached a staggering 532 million by June, with 496 million being car drivers, making up 93.17% of all drivers. In the first half of 2024, 13.97 million new driver’s licenses were issued, reflecting a 17.36% year-on-year increase in licenses.
