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How many electric cars are there in China?
It seems like every time I turn on the news they’re talking about how China sells the most electric cars. How many electric cars are there in China?
Bellina Gaskey · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Sometimes it feels like a year ago no one had an electric vehicle, and those who did were a minority. This is doubly true of China. The last three years, electric vehicle sales in China have steadily grown:
*In 2019 China sold 1.2 million electric vehicles.
*In 2020 China sold 1.3 million electric vehicles.
*In 2021 China saw a jump to 3.3 million electric vehicles sold.
This means the rough estimate of how many electric cars there are in China exceeds 5 million.
This is largely because the Chinese government has imposed a mandate that a certain percentage of vehicles sold by manufacturers be electric vehicles. Their target is to have electric vehicles make up 40% of all vehicle sales by 2030. Chinese manufacturers are very motivated to sell electric vehicles.
This may explain the fact that China has domestic electric vehicle producers who offer a cheaper alternative to the expensive Tesla.
Xpeng’s P5 electric sedan
is cheaper than a Tesla Model 3. Nio
is another well established company in China that commands impressive loyalty. These two companies are bringing a more affordable electric vehicle experience to China, one that makes it easier for the market to explode.Make insurance easier with
Jerry
! In less than a minute, find car insurance that can save you hundreds of dollars with our easy-to-use app.View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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