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As a move to combat the swiftly escalating climate crisis, China has accelerated its production of electric cars while introducing policies that make it harder to acquire gasoline-powered vehicles. China’s leading OEM, the BYD Group, earned more than *** billion yuan in revenue in 2024, an increase of ** percent compared to the previous year. Among this, around *** billion yuan of the revenue came from the electric vehicles and related products, accounting for more than ** percent of the total revenue.

BYD – China’s leading EV brand

BYD was established in China in 1995 as a high-tech company resolved to provide zero-emission energy solutions. In 2023, it was the largest shareholder in the Chinese electromobility market with EV sales, reaching nearly *** million cars. In 2022, the company also had the third highest sales volume of battery electric vehicles making it one of the most popular BEV brands in China.

Electromobility infrastructure in China

China has more private electric vehicle charging stations than public ones. Of the overall number of public electric vehicle charging stations, a majority were concentrated in Guangdong province. More than half the number of the public electric charging stations across China run on alternating current. In spite of the immense progress made by the Asian giant in this field, it remains to be seen how it will overcome the latest setback posed by the coronavirus pandemic.