China is charging ahead in the electric vehicle (EV) revolution, achieving a record 4.397 million new energy vehicle (NEV) registrations in the first half of 2024. This impressive surge brings the total NEVs on Chinese roads to 24.72 million by the end of June, according to official police data.
The new registrations mark a year-on-year increase of 39.41%, a substantial rise from the 3.128 million NEVs registered in the first half of 2023, which itself was a 41.6% increase from the same period in 2022. This consistent growth underscores China's dominant position in the global EV market.
As of June 2024, there are 440 million motor vehicles in operation across China, including 345 million cars. Among the NEVs, all-electric cars lead the charge with 18.13 million units in use, making up 73.36% of the total NEV population.
The country is also seeing a boom in new drivers, with 13.97 million new licenses issued in the first half of 2024. This brings the total number of licensed drivers in China to 532 million, with 496 million of them driving cars.
Urban areas are expanding their vehicle populations rapidly. Currently, 96 cities boast over 1 million cars each, an increase of eight cities compared to the same period in 2023. Among these, 43 cities have surpassed the 2 million mark, and 26 have more than 3 million cars. Notably, Chengdu, Beijing, and Chongqing each boast over 6 million cars, while Shanghai, Suzhou, and Zhengzhou each exceed 5 million cars.
China's commitment to expanding its NEV infrastructure and encouraging EV adoption continues to drive significant growth in the automotive sector, making it a global leader in sustainable transportation.
