Global New Energy Vehicle Manufacturing Industry: A Milestone Toward a Green Future
Tuesday,15 Aug,2023
According to a new report by Market Monitor Global, the impact of COVID-19 and the Russia-Ukraine war have been taken into account in estimating the market size. Global electric vehicles continue to grow at a rapid pace. in 2022, total global sales of new energy vehicles will exceed 10 million units, a synchronized growth of 61%. China and Europe are the main drivers of the strong growth in global EV sales.
In 2022, the national production and sales of new energy vehicles will reach 7,058,000 and 6,887,000 units respectively, with year-on-year growth of 96.9% and 93.4%. New energy vehicle production and sales ranked first in the world for eight consecutive years. Among them, the sales of pure electric vehicles amounted to 5.365 million units, up 81.6% year-on-year. BYD, GAC Group, Xiaopeng Automobile and Azure Automobile are the major Chinese new energy vehicle manufacturers.
In 2022, pure electric vehicle sales in Europe will grow 29% year-on-year to reach 1.58 million units. Demand for new energy vehicles is being driven by the growing concern of European consumers for environmental protection and sustainable transportation. More and more consumers are looking to reduce their reliance on traditional fuel vehicles and opt for more environmentally friendly modes of transportation.
European governments have adopted a series of policies to promote the development and sale of new energy vehicles. These policies include providing subsidies for car purchases, reducing taxes and fees for new energy vehicles, and building charging pile infrastructures, which provide a favorable market environment for new energy vehicle manufacturers.
Environmental regulations on vehicle emissions in Europe are becoming increasingly stringent, requiring automakers to reduce carbon dioxide emissions. To comply with these regulations, automakers need to introduce more new energy vehicles to meet market demand.
Continuous innovation and advancement in new energy vehicle technology is also driving market demand. European automakers and technology companies are committed to developing more efficient and competitive new energy vehicle technologies, attracting consumers' attention and willingness to buy.
According to a research report by Market Monitor Global, European countries are actively building charging pile infrastructure to support the charging demand for new energy vehicles. New energy vehicle manufacturing is a capital-intensive and long-cycle industry.
In 2022, the national production and sales of new energy vehicles will reach 7,058,000 and 6,887,000 units respectively, with year-on-year growth of 96.9% and 93.4%. New energy vehicle production and sales ranked first in the world for eight consecutive years. Among them, the sales of pure electric vehicles amounted to 5.365 million units, up 81.6% year-on-year. BYD, GAC Group, Xiaopeng Automobile and Azure Automobile are the major Chinese new energy vehicle manufacturers.
In 2022, pure electric vehicle sales in Europe will grow 29% year-on-year to reach 1.58 million units. Demand for new energy vehicles is being driven by the growing concern of European consumers for environmental protection and sustainable transportation. More and more consumers are looking to reduce their reliance on traditional fuel vehicles and opt for more environmentally friendly modes of transportation.
European governments have adopted a series of policies to promote the development and sale of new energy vehicles. These policies include providing subsidies for car purchases, reducing taxes and fees for new energy vehicles, and building charging pile infrastructures, which provide a favorable market environment for new energy vehicle manufacturers.
Environmental regulations on vehicle emissions in Europe are becoming increasingly stringent, requiring automakers to reduce carbon dioxide emissions. To comply with these regulations, automakers need to introduce more new energy vehicles to meet market demand.
Continuous innovation and advancement in new energy vehicle technology is also driving market demand. European automakers and technology companies are committed to developing more efficient and competitive new energy vehicle technologies, attracting consumers' attention and willingness to buy.
According to a research report by Market Monitor Global, European countries are actively building charging pile infrastructure to support the charging demand for new energy vehicles. New energy vehicle manufacturing is a capital-intensive and long-cycle industry.
