New Energy Vehicles Achieve Two First-Time Milestones

Source: Xinhua News Agency

In July 2026, new energy vehicles (NEVs) accounted for more than 60% of monthly new vehicle sales for the first time, and their cumulative share of sales crossed 50% for the first time — a set of figures released by the China Association of Automobile Manufacturers (CAAM) that has drawn wide attention.

To grasp the significance of these two “firsts,” the statistical scope must first be understood. Earlier claims of “over half” mostly referred to passenger vehicles or the domestic market. This time, however, the data covers both passenger and commercial vehicles, and both domestic sales and exports — a true crossing of the halfway watershed that marks NEVs as the mainstream of the market.

In the domestic market, the share of NEV passenger vehicles in domestic sales has risen month by month this year, reaching 68.1% in July — roughly two of every three new vehicles sold are NEVs. Commercial vehicle electrification is also accelerating, with domestic NEV commercial vehicle sales growing nearly 50% year on year in July.

In exports, NEVs have accounted for more than 50% of total vehicle exports for two consecutive months. China's vehicle exports were long dominated by gasoline-powered vehicles; now NEVs are becoming the new engine driving export growth.

Since the start of this year, and especially in recent months, oil prices have remained high, directly raising the daily operating costs of gasoline vehicles. Because electricity costs are far lower than fuel costs, the cost advantage of NEVs has become increasingly apparent — a key factor attracting consumers.

At the same time, NEV product competitiveness continues to strengthen. Domestic automakers are deepening technology innovation and R&D investment, making sustained progress on safety, range and other consumer priorities. New-generation power batteries, intelligent cockpits and intelligent assisted driving have all seen fresh advances, and model iteration cycles keep shrinking.

From compact electric city cars to luxury intelligent flagships, from rugged off-roaders to family MPVs, differentiated positioning covers the mobility needs of diverse consumer groups, and the rich NEV product lineup continues to unlock market potential.

Infrastructure is also improving, with the world's largest charging network supporting green mobility. The latest data shows that China now has 23.057 million EV charging guns in total, including more than 180,000 high-power charging guns.

What lies ahead for NEVs? Recently, several documents under the 15th Five-Year Plan (2026–2030) have been released, and NEVs — as a representative of new quality productive forces — feature prominently in them, injecting strong confidence and support into the industry's high-quality development.

For example, the State Council's Action Plan for Carbon Peaking in the 15th Five-Year Plan period proposes that by 2030 NEVs account for 30% of the national vehicle parc, and that new energy vehicles account for 25% of the commercial operating fleet. The 15th Five-Year Plan for Building a New-Type Power System specifies that by 2030 the total number of charging facilities will exceed 40 million, capable of supporting charging services for more than 110 million EVs.

Relying on the advantages of a supersized domestic market, a complete and efficient industrial and supply chain, and continuously upgraded core technologies, China's NEV industry is expected to keep deepening its green transformation, accelerate the integrated upgrade of electrification, intelligence and connectivity, and unlock further vitality and new breakthroughs.

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