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China NEV sales jump in 2022, with some makers far out in front

Sector already tops official 2025 target for delivery of new energy vehicles

BYD, the world’s top seller of new energy vehicles, saw strong sales growth in 2022.   © Reuters

While China's major new energy vehicle (NEV) manufacturers, including the world's top seller BYD, saw strong sales growth in 2022, tough COVID curbs that disrupted supply chains and dented consumer confidence meant that others like XPeng missed their annual targets.

The mixed picture comes as the industry prepares for slower growth as it enters its first year without generous government subsidies that have nurtured it into the world's largest NEV market, and helped its companies become globally competitive.

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