China has led the world in electric vehicle sales last year. The region shipped around 500,000 electric cars in 2021, which was higher than any other nation across the globe. Although, there were various factors that helped it achieve such high shipments.
The data was shared by General Administration of Customs of China (Via AsiaNikkei). In this report, it was revealed that the Chinese market shipped 499,573 electric vehicles in 2021. This marked an increase of a whopping 2.6 times compared to the previous year. On the other hand, Germany also saw EV shipments double in 2021, reaching 230,000 units. However, the US market saw a sizable decline of 30 percent, falling to just 110,000 units.
As of right now, China alone account for 60 percent of global electric vehicle production and is emerging as the “world’s factory” for EVs, similar to its status in digital product manufacturing. Furthermore, exports to the EU also saw a rise amid a policy that saw the ban of sale of new hybrid and gasoline powered vehicles in 2035. Thus, EV exports from China to Europe saw a whopping fivefold increase, hitting 230,000 units as the region basically took around half of China’s total EV exports.
Notably, out of the 500,000 units, more than 100,000 EVs came from the Tesla plant in Shanghai. One official from a Chinese EV parts supplier stated that “In China, production costs are about 50% less than in other parts of the world due to more efficient procurement.” With EVs becoming more popular in the automobile industry, we can expect this figure to grow even further in the future.
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