Projections: China's New Energy Vehicle Sales to Reach 20 Million in 2026

China's New Energy Vehicle (NEV) sales, including exports, are projected to reach 20 million units in 2026, with the total number of NEVs on the road exceeding 60 million. By 2030, this fleet is expected to surpass 120 million units, according to Zhang Yongwei, President of the "China EV100" research institute.

1. Domestic Market Growth

• Market Scale: Domestic car sales in China are expected to grow by 2%, reaching 28.2 million units in 2026 and hitting 30 million by 2030.

• NEV Dominance: The surge in NEVs is the primary driver of this growth, reflecting a massive shift in consumer preference.

2. Overseas Expansion and Exports

• Total Exports: Chinese vehicle production and sales abroad (including exports) are forecast to reach 8 million units in 2026, a 15% increase.

• NEV Share: Out of these, NEV sales will account for 3.5 million units.

• Industrial Value: The export value of auto parts and lithium batteries is expected to reach $180 billion by 2026.

3. Global Manufacturing

• China's overseas vehicle production is expected to exceed one million units in 2026, signaling a new era of global manufacturing for Chinese brands.