Feb 17, 2021 (China Knowledge) - Less than six months after Chinese automaker BYD launched its “Han” luxury electric sedan, the car has leaped into eighth place among the 2020 best-selling new energy vehicles (NEV) in the country, according to data from China Passenger Car Association.
BYD Company (002594), which is backed by American billionaire Warren Buffett, has said sales of the ‘Han’ sedan have increased every month since deliveries began in August. The sedan comes in both pure electric and plug-in hybrid versions.
The Chinese Hongguang Mini which is jointly developed by General Motors with Wuling Motors and stated-owned SAIC Motor outperformed the famous Tesla as the best-selling new energy vehicle in December and second-best for the year.
Out of the top 10 NEV ranking, 8 of them are Chinese brands, setting the pace of a future driven by Chinese brands. China is posed to dominate the automotive industries in coming years if huge automotive industry like U.S and Germany fails to innovate.
Some experts believe that over the next five years the market should anticipate Chinese players across the NEV supply chain, and could enter the overseas market at unexpected fast pace. The results of 2020 best-selling NEV further support the statement as majority of the top-ranking energy cars were coming from the Chinese manufacturers.
Despite Tesla’s Model 3 holding the top spot, there are clear evidence that consumers’ preferences are gradually converting to the Chinese brands as they continue to innovate into futuristic, reliable and green technology.
2020 New Energy Car Rankings
*with the parent company in parentheses
1. Model 3 (Tesla) – U.S
2. Hongguang Mini (SAIC-GM-Wuling) - China
3. Ora R1 (Great Wall Motor) - China
4. Aion S (GAC Motor) - China
5. Qin EV sedan (BYD) - China
6. eQ (Chery) - China
7. Li One (Li Auto) - China
8. Han EV (BYD) - China
9. ES6 (NIO) - China
10. 5 PHEV (BMW) - Germany
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