Global EV Car Sales in February Reached 1.2 Million Units, Surging by 50%; China Dominates Market with 75% Share of Worldwide Sales.

Global electric vehicle sales in February totaled 1.2 million units, marking a 50% increase from the previous year, with China leading the market at 75% of global EV sales. Purchases also rose by 87% compared to the previous year.

The EV market trend in China is shifting towards Battery Electric Vehicles (BEV) with a 46% increase in sales compared to Plug-in Hybrid Electric Vehicles (PHEV) which saw a 22% increase. Brands like BYD, Xiaomi, Xpeng, and Zeekr are gaining momentum, projecting China to account for 60% of global EV sales by the first two months of 2025.

By the end of 2023, BYD is poised to become the world’s largest EV manufacturer, surpassing Tesla, with consistent growth. They sold 133,361 EVs in the first two months of 2025 and doubled their exports in February to reach 67,025 units, setting a record for three consecutive months.

Conversely, Tesla is losing market share in China with sales declining by over 50% to 30,688 units in February, a faster drop than in January.

While the European Union, United States, and Canada are imposing high import taxes of up to 100% to curb Chinese EV imports, particularly BYD is expanding its market continuously, planning to open new factories in Brazil, Hungary, Indonesia, and Thailand to increase global production capacity.

Despite this, China remains the dominant supplier in the EV industry, producing over 75% of the world’s batteries and holding more than two-thirds of the key components used in EV manufacturing.

In contrast, Europe and North America are also growing, with EV sales in Europe rising by 20% to 500,000 units in the first two months of 2025, while North America saw a similar increase to 300,000 units.

TLDR: Global EV sales surged to 1.2 million units in February, driven by the Chinese market dominance and the rise of Battery Electric Vehicles (BEV) over Plug-in Hybrid Electric Vehicles (PHEV). BYD is set to surpass Tesla as the largest EV manufacturer globally, while Tesla is experiencing a decline in sales in China. Despite import taxes, Chinese manufacturers are expanding globally, with China maintaining a strong grip on the EV industry. Europe and North America are also experiencing growth in EV sales.