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[BUSINESS] · China, Germany, France, Spain, United Kingdom · 64 sources

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Electric vehicle markets see record growth in China and Europe

The global and European electric vehicle (EV) markets are experiencing significant shifts. In July, global sales of battery electric vehicles (BEV) and plug-in hybrids (PHEV) reached 1.85 million units, a 9% year-on-year increase. China continues to lead with a record 44% market share for pure electric vehicles in July, despite a broader contraction in its total passenger car market.

In Europe, the EV sector is driving industry growth. July registrations for BEVs across 16 key markets rose 13.6% year-on-year to 224,266 units, representing a 25.7% market share. France and Germany are major contributors, with France achieving a 35% BEV market share and Germany reaching 29.3%. While the overall European market grew modestly, EV sales saw a substantial 51% increase in July.

Chinese manufacturers are expanding their global footprint. Brands like BYD and Chery are driving significant export growth, with Chery recording record monthly exports. In the European plug-in hybrid segment, Chinese brands accounted for 34% of sales in July. However, challenges remain, including infrastructure needs for heavy electric trucks and concerns regarding battery health in the growing second-hand EV market.

Entities

BYD · Chery · China · E-Mobility Europe · Europe · European Union · European Union · Fier Automotive · France · Germany · New Automotive · Renault

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