China registers record 4.397m NEVs in H1 ’24

China continues to lead the electric car revolution, with a record 4.397 million new energy vehicles (NEVs) registered in the first half of 2024, marking a 39.41 per cent increase from the previous year.

The NEV market in China is booming, outpacing the overall vehicle market growth. As of June 2024, there are 440 million motor vehicles in operation nationwide, with 345 million cars.

Electric cars are the dominant force within the NEV market, accounting for a staggering 73.36 per cent of all NEVs on the road. In June 2024, China had 440 million motor vehicles, with 345 million cars.

In the first half of 2024, 13.97 million new drivers received their licenses, bringing the total number of licensed drivers in China to 532 million. Car drivers make up the vast majority, with 496 million holding car driver’s licenses.

China’s urbanisation is evident in the rising number of cities with over 1 million cars. Currently, there are 96 such cities, up by eight from last year. Major cities have notably high car numbers:

• Chengdu, Beijing, and Chongqing: Each with over 6 million cars.
• Shanghai, Suzhou, and Zhengzhou: Each with over 5 million cars.

Attribution: Xinhua