By the end of 2024, China's new energy vehicle (NEV) fleet had soared to 31.4 million units, representing 8.90% of the total vehicle population. In that year alone, new registrations of NEVs hit 11.25 million, accounting for 41.83% of all new car registrations. This marked a significant increase of 3.82 million units compared to 2023, representing a 51.49% surge. China's NEV market has witnessed remarkable high-speed growth, rising from 1.2 million units in 2019 to 11.25 million in 2024.

The journey from 120,000 NEVs at the end of 2014 to 10.01 million by the end of June 2022 took 7.5 years. However, in just one and a half years thereafter, the fleet surged to 20.41 million by the end of 2023. By the end of 2024, it rapidly surpassed the 30 million milestone, achieving this feat in just one year.

This rapid growth in NEV ownership can be attributed to continuous breakthroughs in core technologies, including batteries, motors, and electric controls, as well as the ongoing improvement of infrastructure like charging stations. Additionally, the heightened environmental awareness among consumers has played a pivotal role.

Industry experts widely agree that China's NEV market boasts vast development potential and significant domestic demand, which will undoubtedly provide robust support for the thriving NEV industry.

According to Tianyancha Professional data, there are currently over 1.382 million operational or existing NEV-related enterprises in China. Notably, approximately 335,000 new related enterprises were registered in 2024. The trend in enterprise registration numbers over the past decade reveals a consistent year-on-year growth, with 2024 marking a peak.

Furthermore, Tianyancha's Tianyan Risk and In-depth Risk analysis indicates that roughly 3.54% of NEV-related enterprises are involved in judicial cases.