GXED(SH:600617) Yang Shi Wang·2026-01-16 15:20Core Insights - The Chinese electric vehicle (EV) industry is projected to maintain strong growth in 2025, with production and sales both surpassing 16 million units, marking the 11th consecutive year of leading the global market [1][8]. Production and Sales Growth - In 2025, China's EV production reached 16.626 million units, while sales totaled 16.49 million units, reflecting year-on-year growth of 29% and 28.2% respectively [2]. - The market penetration rate of new energy vehicles (NEVs) reached 47.9% of total new car sales, an increase of 7 percentage points from the previous year [2]. - December 2025 saw production and sales of 1.718 million and 1.71 million units respectively, with NEVs accounting for 52.3% of total sales that month [2]. Domestic Market Performance - Domestic sales of NEVs reached 13.875 million units in 2025, a year-on-year increase of 19.8%, with a market share exceeding 50% for the first time at 50.8% [4]. - Sales of new energy passenger vehicles were 13.005 million units, representing 54% of the domestic market, while new energy commercial vehicles sold 870,000 units, up 63.7% year-on-year, capturing 26.9% of the market [4]. - In December, domestic NEV sales were 1.41 million units, with commercial vehicle sales showing a remarkable year-on-year growth of 72% [4]. Export Growth - China's NEV exports reached 2.615 million units in 2025, doubling from the previous year [6]. - Exports of new energy passenger vehicles were 2.532 million units, also doubling year-on-year, while commercial vehicle exports totaled 83,000 units, up 86.8% [6]. - The export structure diversified, with pure electric vehicle exports at 1.646 million units (up 66.7%) and plug-in hybrid vehicle exports at 969,000 units, a significant increase of 2.3 times [6]. Overall Industry Achievements - The Chinese NEV industry has achieved milestone accomplishments in production scale, market penetration, and international development, driven by policy support, product enhancements, and improved infrastructure [8].