New Energy Vehicle* production is surging in Guangdong, which is already the country’s largest market for electric cars. In Q1, sales jumped 252.1%, by far the fastest in the country. Leading the charge were Guangzhou Auto (+71% YoY) and Shenzhen-based BYD (+147%).
Guangdong is the country’s biggest producer and consumer of NEVs. There are more than 250,000 on provincial roads, which is around one-eighths of the country’s total. Add in the number of Teslas in Hong Kong – it is the largest per-capita market for Tesla worldwide – and the Greater Bay Area’s dominance in electric vehicles becomes clearer.