BEV market share in China in September: 17.44% and plug-in (BEV + PHEV) share is 21%
BEV sales = 276,000 (+211% YoY)
PHEV = 57,000 (+164% YoY)
BEV share has reached a record high of 17.44% in September and the total plug-in share reached 21%.
The majority (83%) of the plug-in sales are BEVs in China.
Overall vehicle sales dropped by 17% while EV sales grew by 202% YoY. So, ICE sales declined by more than 17%.
The total battery volume used is 15.7 GWh which makes it an average of ~47 kWh per vehicle including BEV and PHEVs. 60% of the batteries are of LFP chemistry.
China had a target of 20% NEV sales by 2025. The September share (21%) is already ahead of the target. It may even cross 25% in December. What will be the share by 2025?
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