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China's NECV Registrations Surge 64% in 2024

7/23/2025

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Summary

Story summary

In 2024, China saw a 64% increase in new energy commercial vehicle (NECV) registrations, totaling 546,000.
NECV market penetration rose to 19%, up from 11.3% in 2023.
The top 20 cities, including Shenzhen and Beijing, contributed to 50% of NECV sales, a decrease from 55% in 2023.
Adoption of NECVs is expanding to more cities across China.

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Story summary

In 2024, China saw a 64% increase in new energy commercial vehicle (NECV) registrations, totaling 546,000.
NECV market penetration rose to 19%, up from 11.3% in 2023.
The top 20 cities, including Shenzhen and Beijing, contributed to 50% of NECV sales, a decrease from 55% in 2023.
Adoption of NECVs is expanding to more cities across China.