Kia’s compact EV5 electric SUV is making a statement in the world’s largest EV market. With sales surging nearly 50% last year, the EV5 helped Kia sell over 200,000 vehicles in China for the first time in four years. The impressive growth ranked first among joint venture brands in the country.
China has emerged as a global force in the auto industry as electric sales continue to surge. With another 1.38 million NEVs (EVs and PHEVs) sold in December, China crossed the 1 million mark for the fifth straight month.
According to the CPCA (via CnEVPost), China sold nearly 11 million new energy vehicles in 2024, an increase of 42% from 2023. That’s almost half the 22.88 million total retail passenger vehicles sold in the country last year.
Domestic EV makers like BYD are squeezing legacy automakers out of the market with ultra-low-cost EVs, like its Seagull, which starts at under $10,000 in China.
With rivals like Volkswagen …