9.1 Million Units Sold! China Drives 60% of Global NEV Sales in 2025 H1

Global NEV Market Trends and Industry Landscape (January–June 2025)

According to Rho Motion, global sales of new energy vehicles (NEVs), including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), reached 9.1 million units in the first half of 2025—marking a 28% year-over-year increase and maintaining a steady growth trajectory.

China remains the largest contributor, accounting for over 60% of global NEV sales (approx. 5.46 million units). Europe (20% / 1.82 million units) and North America (12% / 1.09 million units) round out the top three regions, which together represent 92% of global sales—highlighting a strong concentration of NEV growth across key markets.

1. Market Performance of Leading NEV Brands

According to the latest report released by SNE Research on August 5, 2025:

• BYD maintained its global lead with nearly 2 million units delivered.

• Geely Group surged to second place globally, achieving over 70% year-over-year growth through synchronized expansion in both domestic and overseas markets.

• Tesla saw a 13.2% year-over-year decline, indicating a temporary market adjustment phase.

2. Regional Market Dynamics

Europe:
Volkswagen Group delivered 465,500 BEVs globally in H1 2025, up 47% year-over-year. Performance in its core European markets was particularly strong, with 90% year-over-year growth and a stable 28% market share.

North America:
General Motors (GM), along with partners including Honda/Acura, achieved 94% year-over-year growth in NEV sales, lifting its market share to 16%. Meanwhile, Tesla’s market share adjusted to around 44%, reflecting increased competition.

3. Key Industry Trends

• Diversified Competitive Landscape:
  Beyond BYD and Geely, Chinese brands such as Chery, XPeng, NIO, Li Auto, Leapmotor, and Xiaomi are rapidly expanding their global presence, with several entering the top 20 global sales rankings.

• Accelerated Electrification by Traditional OEMs:
  Legacy automakers like Volkswagen and GM continue to ramp up electrification investments, helping drive higher NEV penetration across Europe and North America.

• Integrated Supply Chain Development:
  As NEV volumes grow, supporting component industries—especially key systems like electrical busbars—are gaining strategic importance.

Busbar Industry: Technology and Supply Chain Trends

• Material Innovation:
  Hybrid copper-aluminum busbars balance conductivity with lightweight performance, supporting energy efficiency goals.

• Process Upgrades:
  Advanced techniques such as 3D CNC bending and automated laser welding improve manufacturing precision and product consistency.

• Insulation Solutions:
  Multiple insulation technologies are advancing in parallel, including heat shrink tubing, PVC dip coating, and PI film lamination, offering tailored protection for different voltage levels and applications.

• Thermal Management:
  Electrical Busbars are evolving to support higher power density and thermal loads, essential for next-generation EV platforms.

• Global Supply Capabilities:
  Busbar manufacturers with global delivery networks, regional certifications, and localized technical support are better positioned to serve OEMs with international operations.

Industry Outlook

The first half of 2025 underscores the emergence of a diverse and competitive global NEV ecosystem. For players across the supply chain, success hinges on both technological innovation and global operational capabilities to navigate increasingly complex market demands.

As a critical component, the busbar continues to play a pivotal role in enabling high-performance EV power systems. Ongoing technological upgrades and supply chain optimization in this segment will be essential to supporting the long-term, sustainable growth of the NEV industry.

(Note: All data sourced from publicly available reports by SNE Research and Rho Motion. Percentages are rounded for clarity.)