Results in 2022

According to several researches, Chinese automotive manufacturers such as Geely, BYD and GWM, are developing and manufacturing Plug-in hybrid electric vehicles (PHEVs). It means that these companies are developing and producing not only battery electric vehicles (BEVs) but also high-efficient engines. High-efficient engines are key components of high quality of PHEVs.

According to the data, the number of sales of BEVs and PHEVs in the world was about 10.57 million in 2022. This number accounts for 14% of total sales of new sold cars. In addition, it was increased by 56% compared to 2021. Also, the number of sales of BEVs and PHEVs in China alone was about 5.96 million. Thus, the Chinese EV market accounts for about 60% of the EV market across the globe.

The number of sales of PHEVs in China alone was 1.52 million. This number accounts for only a quarter of the Chinese EV market. However, this number was increased by about three times, compared to 2021. The subsidy to purchase new energy vehicles from the Chinese government was finished in the end of 2022. As a result, the sales of PHEVs were more than those of BEVs in China in the beginning of 2023.

Therefore, it becomes more important for Chinese automotive manufacturers to develop and manufacture PHEVs. It also means that they must develop and produce high-efficient engines.

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