Group 1: Global Market Trends - China's NEV slowdown has caused global BEV growth to drop below 20%, with a growth rate of 17% in November compared to an average of 30% in the previous three months [1] - Global BEV sales reached a record 1.4 million units in November, despite a poor performance in the US market [1][4] - The US BEV market saw a significant decline, with November sales down 36% year-over-year, totaling 76,000 units, compared to an average of 140,000 units from July to September [6] Group 2: Regional Market Insights - China's passenger BEV market experienced a year-over-year growth of just over 10% in November, indicating a shift to a more sustainable growth rate after a previous price-war fueled boom [2] - Europe maintained steady growth in BEV sales, reflecting mid-30s percentage growth for much of 2025 and nearing record sales figures [2] - The US is entering a phase of reduced support for plug-in vehicles, while Europe is re-implementing some plug-in grants, particularly in Germany starting January 2026 [3] Group 3: Technology and Consumer Behavior - PHEV growth has stalled in November, particularly in China, as BEVs remain attractive due to new technology and expanding charging networks [5] - OEMs are increasingly shifting their focus from BEVs to combustion-based technologies, anticipating low growth in the plug-in sector for the foreseeable future [7]

China’s largest automaker, BYD Auto, announced at this year’s IAA Mobility 2025 show in Munich, Germany, that it is stepping up its expansion in Europe by strengthening its sales network in the region and increasing local production. Shenzhen-based BYD, the world’s largest battery electric vehicle (BEV) manufacturer, said its sales in Europe increased threefold to 84,400 units in the first eight months of 2025, according to industry data, and the automaker is looking to increase volumes significantly in t ...