Against the backdrop of global advocacy of green travel and sustainable development, the new energy vehicle industry is booming at an unprecedented rate and has become a key force in reshaping the future transportation landscape. In recent years, the scale of the new energy vehicle market has expanded rapidly, showing strong development potential.
Strong market growth momentum
In the first quarter of 2025, the global new energy vehicle market performed very well, with a total sales volume of 4.02 million vehicles, a year-on-year increase of 39%, accounting for 18.4% of global automobile sales. Chinese brands have shown strong competitiveness in this field, among which BYD has performed particularly well. In the field of pure electric vehicles (BEV), BYD ranks first with a market share of 15.4%, surpassing Tesla again, which has a market share of 12.6%. In the plug-in hybrid electric vehicle (PHEV) market, BYD ranks first with a market share of about 38.7%. Not only BYD, many new energy vehicle companies in China are making efforts. From January to April 2025, my country’s new energy vehicle production reached 4.429 million units, a year-on-year increase of 48.3%; sales reached 4.3 million units, a year-on-year increase of 46.2%; exports reached 642,000 units, a year-on-year increase of 52.6%.
Technological innovation breakthroughs in multiple areas
- As the core component of new energy vehicles, battery technological innovation is crucial. In recent years, the energy density of batteries has continued to increase, effectively improving the range of new energy vehicles. At the same time, the safety and stability of batteries have also been significantly enhanced, reducing the risk of accidents. In addition, the research and application of new battery technologies such as solid-state batteries are also progressing steadily. For example, some car companies are already exploring the application of solid-state batteries in mass-produced models, and are expected to achieve breakthroughs in the future, bringing consumers new energy vehicles with longer battery life and higher safety.
- The innovation of charging technology is also accelerating. Fast charging technology has become mainstream, greatly shortening charging time and improving user experience. Wireless charging technology has also gradually come into people’s field of vision, providing users with a more convenient charging method. With the continuous improvement of charging infrastructure, by the end of 2024, the number of public charging piles has reached 3.579 million, and fast charging above 120KW has accounted for 13%, an increase of 31.3% over last year. The number of private piles has reached 9.239 million, an increase of 57.4% over the same period last year. In the future, charging of new energy vehicles will become more convenient and faster.
- L2 autonomous driving technology has made breakthrough progress with the development of artificial intelligence. Nowadays, some high-end electric vehicles already have some autonomous driving functions, and the realization of fully autonomous driving vehicles in the future is no longer far away. Intelligent network technology, through integration with the Internet, enables new energy vehicles to realize functions such as vehicle networking, remote diagnosis and control, and online upgrades. The application of new generation communication technologies such as 5G will further promote the maturity and popularization of intelligent network technology, making cars a space for intelligent mobility in people’s lives.
Broad prospects for future development
From the trend point of view, the new energy vehicle market will continue to expand, technology will accelerate iteration, and functions will continue to evolve. It is expected that by 2030, the penetration rate of new energy passenger vehicles will reach 50%. The global lithium battery cost still has room to fall, and the industry is expected to usher in a breakthrough in the industrialization of solid-state batteries by 2030. New energy vehicles will continue to improve in terms of vehicle purchase cost, driving range, charging efficiency, and intelligent configuration, covering more subdivided fields and markets.
China’s new energy vehicle industry has entered the mature stage from the incubation period, with continuous progress in industry and technology, and has entered the stage of large-scale development, with prominent benefits of green development. In 2023, China’s new energy vehicle carbon emission reduction will exceed 80 million tons, and it is expected that the national new energy vehicle emission reduction will exceed 100 million tons in 2024. With the development of renewable energy, new energy vehicles and new power systems will become the best match. The coordinated interaction of orderly charging, V2G, photovoltaic storage and charging and replacement will create huge carbon reduction benefits.
The new energy vehicle industry is standing at a new starting point for development, and the expansion of the market and the innovation of technology are injecting strong momentum into its development. Whether it is for environmentally friendly travel or the pursuit of convenient experience brought by technology, new energy vehicles are undoubtedly the best choice for future travel. Let us look forward to more surprises from the new energy vehicle industry and lead us towards a greener and smarter travel future.
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