China is the dominant force in the global electric vehicle (EV) market. China accounted for two-thirds of total global EV sales in 2022, with over 5 million units out of the global total of 7.65 million.

In terms of production, 6.7 million units, constituting 64% of global new energy vehicle (NEV) production, were manufactured in China. This production figure includes EVs, hybrids, and vehicles powered by alternative energy sources like hydrogen.

Whilst Chinese EV companies have solidified their position as key players in the domestic industry, we will likely see them expand internationally next.