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First Decline in New Energy Vehicle Enterprise Registrations Recorded in 2024, Attributed to Heightened Market Competition
2025-03-13 /
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Author：小编
As of March 2025, China boasts 1.2415 million active enterprises related to new energy vehicles, according to data from Qichacha. Over the past decade, the number of registrations within this industry has followed a trend of initial growth followed by a decline. Specifically, in 2015, there were merely 19,500 enterprises, a figure that surged to a peak of 319,400 in 2023 before dipping to 311,100 in 2024, marking the first year of negative growth in a decade. Industry analysts attribute this phenomenon primarily to the intensification of market concentration and a more rational flow of capital within the sector.
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