China has become the world's largest producer and market of EVs (电车). According to a report, 9.58 million Chinese-made EVs were produced and 9.49 million were sold in 2023. Among the total sales, 1.2 million EVs were exported (出口).
The Chinese government has been encouraging EVs as part of its effort for green, high-quality development. As a result, China's EV industry develops very quickly. At Auto (汽车) China 2004, BYD was the only company showing EVs there. At Auto China 2024, there were 278 different EV models on show, including BYD, SAIC, Geely, Li Auto, Nio, Xpeng and other brands (品牌).
China's EV industry is now facing both challenges and chances. It's reported that 71% of EV brands cut prices in 2023. EV makers without the ability of innovation (创新) will face growing risks. In order to be both green and smart, Chinese EV makers are trying hard to improve technologies like battery qualities and AI support. At the same time, the government is adding even more charging points (充电站). On the other hand, more Chinese people are aware of the environmental problems. It is encouraging more buyers to choose EVs.
EVs are the way of the future. In an ideal world, everyone benefits from innovation and green transport. Some might get there sooner than others, and will gain greater rewards. It is very likely that China will hold the lead.
