Market Share of China Electric Vehicles Industry
The Chinese electric vehicles market is dominated by a few players such as BAIC Motors, SAIC Motors, Honda Motor Company, Geely Motors, and BYD Co. BYD is the leading player in the Chinese electric vehicles market, owing to the increasing orders for its passenger cars and electric buses from the domestic and international markets. SAIC is expected to be the second-largest company, followed by Geely Motors and BAIC Motors. In order to develop advanced products and technologies, companies invest heavily in research and development.
- In June 2022, BMW AG opened its new factory in Shenyang, China. The company invested CNY 15 billion (USD 2.2 billion) to focus on electric vehicles.
- In February 2022, Danfoss announced that its Editron division successfully began mass production of its EM-PMI240-T180 motor, which is specifically designed for electric and hybrid drivetrains in buses at its Nanjing factory, located in eastern Jiangsu province.
- In June 2021, China Yuchai International Limited announced that it partnered with Guangxi Shenlong Automobile Manufacturing (Sun long) to develop four new energy powertrain systems, including an e-CVT power-split hybrid powertrain ("YC e-CVT"), integrated electric drive axle powertrain ("YC e-Axel") for new energy bus production in southern China.
- In February 2020, Honda Motor Company Ltd announced the beginning of its sales of all-new Honda Fit Hybrid vehicles. It is fortified with Honda's 2-motor hybrid system, which drives the vehicle with an electric motor, which results in a smooth drive and better fuel efficiency.
China Electric Vehicles Market Leaders
BYD Company Ltd
SAIC Motor Corporation Limited
BAIC Motor Corporation
Geely Auto Group
Tesla Inc.
*Disclaimer: Major Players sorted in no particular order
