Right now, China’s electric vehicle sector is delivering a generation of new cars so high-tech that they make some of the best rides in America look like whatever hooptie you drove in high school. They’re electric,
China EV sales: Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December sales. But a price war is intensifying.
Tesla, the US electric vehicle giant, celebrated record sales in China in 2024, but analysts warn that sustaining this performance in 2025 could prove challenging as competition with domestic players intensifies.
In 2024, Tesla made 1,773,443 electric vehicles, America's EV leader said on Thursday. (Since Tesla only makes EVs, that’s also its total production number for the year.) BYD, meanwhile, churned out 1,777,965 EVs, about 4,500 more than Tesla did, the firm said this week.
U.S. electric vehicle maker Tesla said on Friday its China sales rose 8.8% to a record high of more than 657,000 cars in 2024, a strong performance in a competitive market in a year when its annual global deliveries fell for the first time.
China “will add nearly twice as many EV sales next year as the rest of the world combined," predicts Rho Motion's Will Roberts.
The EV giant sold 1.76 million electric cars in 2024, per figures released on Wednesday, putting it within touching distance of beating Tesla.
Volkswagen Group China and XPeng have signed a memorandum of understanding (MoU) to establish one of China's “largest super-fast” charging networks. This collaboration will leverage the technological expertise of both companies to provide an extensive charging infrastructure for electric vehicles (EVs) across China.
A similar phenomenon has occurred in China, where local municipalities have implemented their own incentives for EVs. For example, the city of Nanjing in Kiangsu will give a 4,000 yuan (around $550) incentive for new cars. This pales in comparison to one deal in Colorado, for example, where residents can lease a new Fiat 500e for $0 per month.
Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.