Automundo China

In 2024, China's electric vehicle sales surged over 40%, marking a transformative year in the global automotive market with significant domestic and export growth.

For the full year of 2024, CATL ranked first with a 45.08 percent share, BYD was second with 24.74 percent, and CALB was third with 6.68 percent.

Foxconn's push into the electric vehicle market highlights the intersection of technology and traditional automotive industry, aiming for significant market share through strategic partnerships and innovation.

Sales of all types of electric vehicles rose more than 40 per cent in China last year, while those of gasoline-powered automobiles plunged, industry data showed Monday. A total of 31.4 million vehicles including buses and trucks were sold la

China's vehicle exports are expected to grow 5.8% to 6.2 million units this year, cooling from a 19.3% increase in 2024, data from the China Association of Automobile Manufacturers (CAAM) showed on Monday.

Except for a relatively sluggish commercial vehicle market, China's automobile industry outperformed expectations in 2024, with total sales, NEV production and sales, and exports exceeding prior forecasts, the China Association of Automobile Manufacturers (CAAM) said on Monday.

Auto industry newcomers like Taiwan-based iPhone maker Foxconn and China's Huawei Technologies are maneuvering to gain an edge in the electric vehicle sector, prompting automakers like Japan's Nissan and Honda to announce plans to join forces against a flood of ambitious competitors. Also known as Hon Hai Precision Industry, Foxconn has been snapping up links in the automotive supply chain, one of a growing number of technology companies that are leveraging their knowhow in electronics and communications. Foxconn's auto venture with Taiwan automaker and importer Yulon Motor Co., Foxtron, showcased its Model B, a sleek EV hatchback, as well as its automotive electronics, at the Consumer Electronics Show in Las Vegas last week.