Nio is only one of a alphabet soup of Chinese brands – from Aion, Byd and Clever, in Maxus, Neta and Onvo, in Xpeng, Yangwang and Zeekr – dominating the world market for electric vehicles today.
It was a dazzling climb. In 2001, China had less than 10 million passenger vehicles for its population of 1.2 billion. This is only a vehicle for each 128 people, or a market penetration equivalent to America in 1911, three years after Henry Ford produced its first T model. But in 2009, China was the largest automotive market in the world. To be an importer of net cars as recently in 2020, China today sends more vehicles abroad than any other nation; Its exports of passenger cars jumped almost 20% in 2024 to 4.9 million. Meanwhile, imports of cars in China went from a peak of 1.24 million in 2017 to only 705,000 last year.
Chinese car manufacturers are expected to represent a third of the world market by 2030, according to Alixpartners. Regarding electric vehicles, China already represents almost two thirds of world sales (62%). NIOs are currently sold in six European countries as well as in Israel and water. Byd, on the other hand, is now undoubtedly the best global company of electric vehicles, present in more than 70 countries and existing Tesla in the world for a second consecutive district. While Tesla delivered 336,681 vehicles worldwide for the January-March period, down 13% in annual shift, Byd delivered 416,388, up 38%.
