China’s EV automakers have taken the lead in global EV sales, surpassing their competitors by a significant margin. According to the International Council on Clean Transportation (ICCT), Chinese carmakers dominate the zero-emission vehicle (ZEV) space, with over 11 million EVs sold annually – accounting for over half of global EV sales.
The success of Chinese automakers can be attributed to their massive domestic market, which has allowed them to build momentum, scale up, and improve their technology. Companies like Geely and SAIC have already achieved a 50% EV sales share, meeting their 2025 targets a year ahead of schedule. In fact, Chinese automakers hold the top five spots for ZEV class coverage and five out of the top six spots for EV sales share.
On the other hand, automakers in the US and Europe are lagging behind, struggling to catch up on technology while navigating uncertain regulatory environments.
A significant milestone was reached in 2024 when BYD officially surpassed Tesla in global battery electric vehicle (BEV) sales for the first time. BYD saw a 25% increase in BEV sales and a 47% increase in combined BEV and plug-in hybrid sales. Despite this, both BYD and Tesla remain in the “Leaders” category.
Automakers across the board have made advancements in energy efficiency, charging speed, and driving range with newer high-performance models. The ICCT’s global passenger vehicle lead, Zifei Yang, noted that there has been widespread improvement in BEV technology performance throughout the industry.
In addition to Chinese automakers, India’s Tata Motors made significant progress, transitioning from the “laggard” group to the “transitioner” group for the first time. Japanese and South Korean automakers are still trailing behind, but companies like Honda and Nissan are making strides. Honda launched its first US BEV, while Nissan clarified its ZEV targets.
A new addition to this year’s report is a green steel metric, tracking which automakers are reducing emissions in the supply chain. European brands like Mercedes-Benz, BMW, and VW received high marks for sourcing renewable-powered green steel.
ICCT’s CEO, Drew Kodjak, emphasized the importance of remaining competitive in the evolving EV market. The full Global Automaker Rating, covering 21 major automakers, is now available on ICCT’s website.
As the EV market continues to grow and evolve, it is crucial for automakers to stay ahead of the curve in technological advancements and sustainability practices. The success of Chinese automakers serves as a testament to the importance of innovation and adaptation in the automotive industry.
