In 2021, top EVs sold in China were all Chinese manufacturers except for Tesla and Volkswagen; the same held true in 2022, except there was quite a dramatic shake-up.
China’s BYD skyrocketed from 2nd place in 2021 with 13% market share to #1 with an astounding 31% market share.
BYD’s dominance has largely shrunk competitors market shares, sending SAIC-GM-Wuling into 2nd place with 8% market share, nearly flush with Tesla’s 7.4%.
Volkwagen, on the other hand, is one of a handful of EV players that increased market share last year from 1.5% to 3.2%.
Tesla has a giga factory in Shanghai which started production in 2019, and Volkswagen Group has 33 plants in China.