Pure electric vehicles (EVs) are regaining their lost ground in mainland China as new battery technologies ease range anxiety while lower lithium prices make it increasingly affordable for consumers to own environmentally friendly cars.
“We are witnessing a shift in consumer sentiment with growing interest in BEVs this year,” UBS analyst Paul Gong told a media briefing on Friday. “The market share of BEVs has bounced back since they hit an all-time low in mid-2024.”
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Global carmakers cede world’s largest auto show to Chinese EVs
Global carmakers cede world’s largest auto show to Chinese EVs
BEVs made up 63 per cent of total EV deliveries last quarter in the world’s largest automotive and EV market, increasing their market share from 53 per cent in July, when more consumers opted for plug-in vehicles on cost and range advantages.
Extended-range EVs (EREVs) were about 10 per cent cheaper than pure EVs last year, because of the high cost of the big battery packs required to power up to 500km of driving range in pure EVs.
