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Global EV Sales Surge 50% in February, Driven by China's 76% Growth

China solidifies its dominance in the EV market as global sales reach 1.2 million units, while U.S. and European markets see modest gains despite new tariffs and policy changes.

Image
EV cars are pictured inside BYD's first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. REUTERS/Chalinee Thirasupa/File photo
teslas in a parking lot with a tesla sign in the background
Aerial shots of many cars before sale

Overview

  • Global electric vehicle sales, including battery electric and plug-in hybrids, rose 50% year-on-year in February, reaching 1.2 million units, according to Rho Motion data.
  • China accounted for approximately 75% of global EV sales, with a 76% increase in February and a 35% rise in the first two months of 2025 compared to 2024.
  • The European Union's new tariffs on Chinese-made EVs have impacted sales of brands like MG, Tesla, and Nio, though BYD continues to gain market share in Europe.
  • U.S. EV sales grew 28% year-to-date, driven by consumers taking advantage of soon-to-expire IRA tax incentives, despite a challenging policy environment.
  • Mexico's EV market more than doubled as Chinese imports expanded, while European markets like Germany and the UK saw a 40% growth in early 2025.