EV Growth Spreads Beyond China to Global Markets: Volkswagen Ranks 1st, Tesla 2nd

[Economy 365]

From January to July this year, electric vehicles delivered in the global market excluding China increased by 30.5% compared to the previous year.

Combining battery electric vehicles and plug-in hybrids, the total reached 5.434 million units.

This growth rate is much higher than the 6.3% growth rate of the entire global market including China, leading to analyses that the center of gravity for EV growth is shifting outside of China.

By automotive group, Volkswagen maintained the top spot with 740,000 units, followed by Tesla in second with 677,000 units, and BYD in third with 594,000 units.

Hyundai Motor Group recorded 441,000 units, a 24.8% increase, but dropped one notch from third place last year to fourth, pushed down by BYD.

The Asian market excluding China saw an increase of 77% to 1.114 million units.

On the other hand, North America remained at 790,000 units, a 22.7% decrease, affected by the termination of tax credits for eco-friendly vehicles.

*This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.