According to foreign media reports, the latest data from automotive market consulting firm Rho Motion shows that global sales of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) reached 1.5 million units in April, up 29% YoY. Despite trade tensions, the Chinese and European markets maintained steady growth, while the North American market saw its first decline since September last year. Among them, EV sales in the Chinese market increased by 32% compared to the same period in 2024, reaching 900,000 units. As part of an expanded consumer trade-in program in January, China extended its auto trade-in subsidy policy until 2025, aiming to avoid a decline in EV sales and boost economic growth. Charles Lester, Data Manager at Rho Motion, stated that while Chinese EV automakers continue to expand domestic sales of EV models, they are also actively expanding their overseas market presence in the PHEV segment. Lester also noted, "Since the beginning of this year, PHEV sales in global regions outside of China, North America, and Europe have nearly doubled, with Chinese exports contributing the majority of the increase." In the European market, new vehicle registrations for BEVs and PHEVs increased by 35% YoY, with sales reaching 300,000 units. The main reasons for Europe's growth are that traditional European automakers are accelerating their electrification transformation to meet EU carbon emission standards, and BEV model sales have surpassed those of Tesla. Regarding Tesla, Lester said that its market share continued to decline before the Model Y received a product refresh. In North America, EV sales fell by 5.6% YoY to 100,000 units. Global automakers face a 25% import tariff in the US, the world's second-largest automotive market, leading many manufacturers to withdraw their 2025 performance outlooks. Meanwhile, the Trump administration's stance on emission standards and uncertainty surrounding tariff policies have also hindered the growth of the North American EV market. Lester stated that the trade agreements reached by Trump with the UK and China this month have had a minimal impact on EV sales, but they are a positive signal for the industry ahead of potential trade negotiations with South Korea, Japan, and the EU. The global EV industry is currently at a critical turning point, with governments worldwide introducing policies to encourage the purchase of EVs. However, trade tensions and a slowdown in automotive market growth may signal factory closures and layoffs.

According to foreign media reports, based on the latest data from electric vehicle research firm Rho Motion, global EV sales climbed to 1.7 million units in March 2025, propelling total Q1 sales to 4.1 million units, a 29% YoY increase.

According to foreign media reports, based on the latest data from electric vehicle research firm Rho Motion, global EV sales surged to 1.7 million units in March 2025, driving total Q1 sales to 4.1 million units, up 29% YoY. March sales also saw a significant 40% increase MoM from February, indicating that the EV market continues to maintain robust growth.

【Global Electric Vehicle Sales Exceed 4.1 Million in Q1】According to the latest data from the electric vehicle research institute Rho Motion, global electric vehicle sales soared to 1.7 million in March 2025, driving the total sales in the first quarter to 4.1 million, a year-on-year increase of 29%. The March sales also saw a significant 40% month-on-month increase from February, with the electric vehicle market continuing to grow strongly.

The EV industry has experienced remarkable growth far beyond what many envisioned a decade ago.

For the last three years the BESS market has been the fastest growing battery demand market globally. In 2024, the market grew 52% compared to 25% market growth for EV battery demand according to Rho Motion’s EV and BESS databases.

BYD has unveiled its “Super e-Platform” capable of reaching charging speeds of 1,000 kW (1 MW) making it the fastest charging platform on the market. The platform also has a max voltage capacity of 1,000V, higher than the current 400V and 800V platforms currently used.

Since the inception of EVs, the concept of battery swapping has been part of the discussion on the economics of electrification.

Rho Motion, the leading EV research house, today revealed that the number of electric vehicles sold globally in February 2025 is 1.2 million. The EV market grew by almost 50% compared to February 2024, but fell by 3% compared to January 2025.

The Chinese IPO market saw a stark slowdown in 2024 as the securities regulator increased the red tape around listing. This, combined with the Hong Kong Exchange (HKEx) recently easing rules for Chinese companies to hold dual listings there, has led many Chinese players to look to the market to raise funds. This is notable for companies operating within the electric vehicle (EV) and battery space.