China Registers 37% Surge in Domestic EV Sales in March

A report from CnEVPost.com revealed that domestic electric vehicle sales in China surged by 37% in March. China leads the world in electric vehicle sales thanks to its massive population’s demand for electric vehicles, and a fiercely competitive industry that has kept electric cars low cost and affordable for a majority of the population.

Compared to drivers in Western countries, Chinese drivers are purchasing new energy vehicles such as plug-in hybrid electric vehicles (PHEV), battery electric vehicles (BEVs), and hydrogen fuel cell cars at an incredibly rapid pace. CnEVPost.com reports that this resulted in a 37% increase in electric vehicle sales in the Asian nation last month.

Chinese carmakers sold a million new energy vehicle units in March alone, a 37% month-over-month increase from February 2025. Wholesale deliveries of NEVs reached 1.14 million units last month and are estimated to be around 2.86 million units for Q1 2025, 43% higher than the first quarter of 2024.

As expected, BYD surpassed every other electric vehicle firm in the country with 371,419 vehicle deliveries in March. Geely sold 119,696 units followed by Tesla, SAIC-GM-Wuling, and Chery, which sold 78,828, 74,108, and 56,450 NEV units respectively.

March was also a good month for smaller EV brands like Nio which sold over 15,000 cars, a 27% increase compared to its March 2024 sales. Li Auto also experienced a 27% year-over-year increase in sales to sell 36,674 electric cars last month while Xpeng registered a 269% year-on-year increase and sold over 33,000 electric cars in March.

With dozens of electric vehicle firms vying for supremacy in China’s massive EV market, the Asian nation is a key player in the global electric vehicle industry. Targeted policies coupled with a decade of subsidies and incentives have significantly reduced EV production costs in China and allowed Chinese carmakers to sell their EVs at incredibly low price points.

European Union leaders were quick to block the entry of cheap Chinese electric cars into the European market via tariffs after it became clear that European carmakers simply couldn’t compete with China’s low prices. Even though China’s affordable EVs are now subject to steep import tariffs in most major markets, China still drives global EV sales thanks to its billion-plus population.

Of the 17.1 million EVs sold worldwide in 2024, analytics firm Rho Motion estimates that 11 million or 64% were delivered to Chinese drivers, increasing China’s share of global EV sales by 40% year-over-year. 3 million EVs were delivered to European drivers, the U.S. and Canada bought 1.8 million electric cars, and drivers in other remaining countries purchased 1.3 million EVs in 2023.

Automakers like Mullen Automotive Inc. (NASDAQ: MULN) now have to do everything in their power to wrestle market share from Chinese firms in major markets around the world.

NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN

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