China Leads Global EV Sales Dominance in 2024 with Over 11 Million Units

China has solidified its dominance in the global electric vehicle (EV) market, accounting for over half of all battery electric vehicle (BEV) sales worldwide in early 2025, with leading companies like Geely, SAIC, BYD, and Chery surpassing sales targets and expanding their high-performance EV lineups. Chinese manufacturers are also advancing in domestic supply chain development, aiming to produce EVs with fully domestically made semiconductors by 2026, which reflects Beijing's strategic response to U.S. technology restrictions. While Tesla remains the global leader in EV sales, particularly with its Model Y and Model 3, it faces increasing competition from Chinese brands and other global players, especially as Tesla's European market share sees some decline amid a surge of new entrants. European automakers such as Mercedes-Benz, BMW, and Volkswagen lead in adopting green steel to reduce emissions in EV production, highlighting a key area for industry-wide environmental improvements. The global EV market is rapidly evolving, with companies racing to innovate and adapt to maintain competitiveness in technology, sustainability, and supply chain resilience. This dynamic underscores China's expanding influence in shaping the future of zero-emission vehicles and the broader automotive industry's decarbonization efforts.