Tag Archives: EVs

News

EVs more popular than ICE cars in China

In 2020, the Chinese government set a goal for electric vehicles to account for half of new car sales by 2035, but at this rate, China will reach that goal a decade early. According to the latest data, sales of electric cars in China will reach 12 million units in 2024, surpassing cars with combustion engines for the first time ever.

The latest information says that in 2024, sales of cars with combustion engines could fall to less than 11 million units, which is 10 percent less than in 2023. That’s no surprise, considering China has big plans for EVs. Plug-in hybrids are expected to be a hit this year with 4.39 million units sold, rising to 6.05 million vehicles over the next eight years.

Predictions are that once the transition point is reached, electric vehicles will continue to grow and could exceed 18 million units by 2034. By then, sales of cars with combustion engines could drop to just 2.93 million.

What could worry the manufacturers of cars with combustion engines in China is that these vehicles will have very little space in the domestic market. In 2024, the market share of foreign cars fell to 37 percent compared to 64 percent in 2020. This shows that Chinese buyers are increasingly choosing domestic vehicles in the largest new car market on the planet, resulting in a reduction in a significant source of revenue for many manufacturers.

China, as the world’s EV leader, is slowly killing its competition. EV production is turning into a game of survival, and the winners are likely to be the manufacturers that can deliver quality vehicles at affordable prices. This will also mean the shutdown of some of the all-electric brands that have been present on the market for years.

One of the first victims in the cruel automotive world is the American brand Fisker. In 2023, Fisker had big plans, production of 40,000 electric vehicles, but only 10,000 left the production lines. The Ocean SUV has received mixed reviews, with Consumer Reports claiming that the promise has not been fulfilled, while regulators have addressed issues with brakes and doors that won’t open. Further complicating the situation for Fisker was the fact that the Ocean lost its place on the list of tax-deductible electric vehicles unless leased because it was manufactured outside of North America. Now, they are bankrupt.

Source: Reuters

News

In 2024, almost every new car sold in Norway was an EV

Demand for electric vehicles in Norway has been growing for years, and the country’s plan for 2025 is that every vehicle sold will be an EV. They are currently very close to that goal. According to published data for the year 2024, 89 percent of new cars sold were EVs.

In 2012, electric cars accounted for only 2.8 percent of sales, but since then they have been on the rise thanks to various incentives. They were exempt from more taxes, tolls, had free parking in public car parks and could use public transport lanes, which made them competitive with highly taxed internal combustion cars.

“We only need 10 percent more to reach the 2025 target,” the Opplysningsrådet for Veitrafikken (OFV) said in a statement.

Despite the fact that the Scandinavian kingdom is an oil and gas producer, this does not prevent it from being a European and world leader in electrification. The plan to become the first country with zero emissions from 2025, which is 10 years ahead of EU regulations, means that Norway is way ahead of everyone else.

In 2024, 128,691 new cars were registered in Norway, of which 114,400 were EVs, which is a 7 percent increase compared to 2023 (82 percent). “It is crucial to maintain the incentives that favor the purchase of electric cars if the government and parliament are to achieve the goal they have set themselves,” said OFV director Oyvind Solberg Thorsen.

Source: Opplysningsrådet for Veitrafikken (OFV)

News

BYD sent a ship with 5,000 EVs to Europe

In March 2024, Chinese carmaker BYD ordered seven new transport ships to meet the goals and the increasing demand for electric cars in Europe. The first of the new ships (BYD Changzhou) set sail from the port of Yantai in late November with 5,000 new EVs.

The 200-meter-long ship, with a capacity of 7,000 vehicles, headed for the ports of Bristol (UK) and Rotterdam (Netherlands) with vehicles produced in several plants. It was built to high international standards and uses a dual-fuel LNG drive, which reduces carbon emissions during the journey.

These seven ships will help BYD to transport its cars around the world faster. Currently, Chinese companies own fewer than 50 car cargo ships, and their combined capacity is less than 150,000 vehicles. In comparison, Japanese companies have ships that can transport 1.6 million vehicles.

“Having our own ships helps us better control our exports. We can now deliver our environmentally friendly vehicles to customers around the world in an even more efficient manner,” the company said.

Since the beginning of the year, Chinese manufacturers have exported 5.28 million vehicles, up 25 percent from 2023. BYD currently operates in 99 countries and regions around the world, and plans to acquire more ships to enhance its global supply of quality and environmentally friendly vehicles.

Source: BYD