China just reported electric-vehicle sales data for October, and the numbers continue to break records. A total of 722,000 plug-in passenger and commercial vehicles were sold. Battery-electric vehicles were 22% of the passenger car market, and plug-in hybrids claimed another 9% share.
Analyzing China’s EV market takes up a growing share of our time at BloombergNEF, mostly because China represents an ever-growing portion of the global EV market. China’s share of global passenger EV sales has gone from 26% in 2015, to 48% in 2021, to 56% in first half of 2022.
A big surge in the final months of the year that could push the share north of 60%.
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