China’s EV market finished 2024 on a high note, with both battery-electric vehicle (BEV) registrations and plug-in hybrid (PHEV) deliveries seeing significant growth. This surge in demand for electric vehicles reflects a renewed focus on sustainable powertrains by both manufacturers and consumers.
According to data from EV Volumes, PHEV registrations in China saw a 79.8% year-on-year increase, totaling 4.86 million units in 2024. On the other hand, BEV registrations grew by 17.3%, with 6.34 million new models hitting the roads. December was a particularly strong month for both PHEVs and BEVs, with significant increases in registrations.
BYD emerged as a dominant player in the PHEV market, with six of their models ranking in the top 10 for 2024. The BYD Song led the pack with 594,950 registrations, followed by the BYD Qin Plus and Qin L in second and third place, respectively. BYD’s strong performance in the PHEV segment reflects the popularity of their diverse range of plug-in hybrid models.
In the BEV market, Tesla’s Model Y maintained its top position in 2024 with 480,309 registrations. However, the gap between the Model Y and the second-ranked BYD Seagull narrowed significantly compared to the previous year. The Seagull secured second place with 442,185 registrations, showcasing BYD’s growing influence in the electric vehicle market.
Other notable performers in the BEV segment included the Wuling Mini, Wuling Bingo, and the Tesla Model 3. These models secured top spots in the rankings, highlighting the increasing competition in the Chinese electric vehicle market.
Overall, the electric vehicle market in China is thriving, with strong demand for both PHEVs and BEVs. Manufacturers like BYD and Tesla are leading the charge with their innovative and sustainable electric vehicle offerings, setting the stage for further growth and development in the coming years.
