Team-BHP - China becomes world's first country to register 1 million EV sales in one month

- - China becomes world's first country to register 1 million EV sales in one month (https://www.team-bhp.com/forum/international-automotive-scene/285244-china-becomes-worlds-first-country-register-1-million-ev-sales-one-month.html)

According to reports, China has become the first country in the world to register over 1 million units of EV sales in just one month. The country achieved the impressive feat in August 2024, with sales numbers including both BEVs and PHEVs.

China becomes world's first country to register 1 million EV sales in one month-atto3.jpg

Based on figures published by a London-based research house, Rho Motion, China's EV sales have grown by an impressive 33% compared to last year. The research house also mentioned that demand for EVs has been growing, with 9.8 million battery-powered vehicles having been sold so far in 2024 - a 20% year-to-date increase as of August.

The impressive sales figures of China come at a time when EV sales in Europe have declined, with the EU and UK's electric vehicle segment registering a 4% drop. The sales decline in Europe is attributed to the end of subsidies in Germany and the tariffs applied to Chinese EVs coming to Europe.

Charles Lester, Data Manager at Rho Motion, stated, "China surpassing one million EV sales in a month is just the beginning. We anticipate this milestone to be reached multiple times before the end of the year, potentially every month."

Source: CNBC TV18

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China has also drastically increased the Charging point Infrastructure. Evident with the Car to Charger ratio which was at 6.8 cars/charger (2021) and it is the only country that has managed to keep this ratio more or less constant even though the sales of EVs have been increasing. This is one of the reasons that China market is still managing to see the demand in EV although Europe has seen a drop in sales.