Worldwide sales of electric vehicles (EVs) saw a significant increase in February, with China leading the way. Sales surged by 76 percent in China, even as Europe and the United States imposed import barriers to limit the dominance of Chinese-made brands.
Global sales of battery-powered EVs and hybrids reached 1.2 million units in February, a 50 percent increase compared to last year. Approximately 75 percent of those sales occurred in China, where purchases rose by 87 percent, according to the China Association of Automobile Manufacturers.
Rho Motion’s data manager, Charles Lester, noted that much of the growth still stems from China. “This year, China is experiencing a sales boom of pure electric vehicles, which contrasts with the hybrid boom of 2024,” he said.
China continues to dominate the global EV market. In the first two months of 2025, sales in China rose 35 percent to 1.4 million units. This accounted for about 60 percent of global sales during that period, which coincided with the Lunar New Year, a time when consumer spending typically peaks.
Sales of battery-powered EVs in China grew by 46 percent. Several new models from companies like BYD, Xiaomi, Xpeng, and Zeekr led to a shift away from hybrid vehicles toward fully electric ones. Plug-in hybrid sales grew 22 percent, but this was slower compared to last year.
BYD, the world’s largest maker of “pure” battery-powered EVs, continued to outpace competitors. In the first two months of 2025, BYD sold 133,361 EVs and hybrids, with exports doubling in February to 67,025 units. This marked the third consecutive month of record sales.
In contrast, Tesla’s market share in China shrank significantly. Tesla’s sales fell by more than 50 percent in February, a faster decline than the 49.2 percent drop in January.
Despite high tariffs, Chinese companies like BYD continue to thrive. The European Union imposed tariffs on Chinese-made cars in October 2024, after launching an anti-subsidy probe. Meanwhile, the U.S. and Canada introduced 100 percent tariffs on Chinese EVs. Even with these obstacles, BYD is expanding rapidly in both domestic and international markets.
China dominates the EV supply chain, accounting for over three-quarters of the world’s battery production capacity. Chinese companies also lead in all major components needed to assemble EVs, according to Beijing-based Insight and Info Consulting.
BYD remains unfazed by tariffs. The company plans to raise $5.6 billion through a stock sale to increase its research and development spending. Its factories in Brazil, Hungary, Indonesia, and Thailand are nearing completion, further increasing production capacity.
In Europe, EV sales grew 20 percent, reaching 500,000 units in the first two months of 2025. Similarly, North America saw a 20 percent increase in deliveries, reaching 300,000 units.
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