15 January 2026
The Untold Story of Wan Gang and the Success of China’s Electric Vehicle Industry
China has transformed itself into the world’s leading electric vehicle (EV) power. In 2024, Chinese consumers purchased more than 11 million EVs, constituting nearly 65% of global sales, and EVs made up almost half of new cars sold domestically. China produced about 58% of the world’s EVs in 2023 and exported 1.28 million units in 2024. This dominance is the product of strategic government support, supply chain integration, fierce domestic market competition, and rapid technological innovation.
Read the full RSIS Annual Review 2025 here
China has transformed itself into the world’s leading electric vehicle (EV) power. In 2024, Chinese consumers purchased more than 11 million EVs, constituting nearly 65% of global sales, and EVs made up almost half of new cars sold domestically. China produced about 58% of the world’s EVs in 2023 and exported 1.28 million units in 2024. This dominance is the product of strategic government support, supply chain integration, fierce domestic market competition, and rapid technological innovation.
Read the full RSIS Annual Review 2025 here
