Global sales of new energy vehicles continue to grow, with China’s market share expanding to 67%

Recently, data shows that the total sales of new energy vehicles such as pure electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles worldwide reached 16.29 million units in 2024, a year-on-year increase of 25%, with the Chinese market accounting for as much as 67%.

In the BEV sales ranking, Tesla remains at the top, followed closely by BYD, and SAIC GM Wuling returns to third place. Volkswagen and GAC Aion’s sales have declined, while Jike and Zero Run have entered the annual top ten sales rankings for the first time due to doubled sales. Hyundai’s ranking has dropped to ninth place, with a 21% decline in sales.

In terms of PHEV sales, BYD holds nearly 40% of the market share, with Ideal, Alto, and Changan ranking second to fourth. BMW sales have slightly declined, while Geely Group’s Lynk&Co and Geely Galaxy have made it onto the list.

TrendForce predicts that the global new energy vehicle market will reach 19.2 million units by 2025, and the Chinese market is expected to continue to grow due to subsidy policies. However, Chinese automobile groups are facing challenges such as fierce local competition, large investment in overseas markets, and technological competition, and there is a clear trend towards brand integration.

Aluminum is used in the Automobile industry for car frames and bodies, electrical wiring, wheels, lights, paint, transmission, air conditioner condenser and pipes, engine components (pistons, radiator, cylinder head), and magnets (for speedometers, tachometers, and airbags).

The main advantages of aluminum alloys compared to conventional steel materials for the production of parts and vehicle assemblies are the following: higher vehicle power obtained by a lower mass of the vehicle, improved rigidity, reduced density (weight), improved properties at high temperatures, controlled thermal expansion coefficient, individual assemblies, improved and customized electrical performance, improved wear resistance and better noise attenuation. Granular aluminum composite materials, which are used in the automotive industry, can reduce the weight of the car and improve a wide range of its performance, and can reduce oil consumption, reduce environmental pollution, and prolong the lifetime and/or exploitation of the vehicle.