According to data released by the China Association of Automobile Manufacturers on November 11th, in October 2025, my country’s new energy vehicle (NEV) production and sales maintained rapid year-on-year growth. NEV sales accounted for 51.6% of total new vehicle sales, marking the first time the market share has exceeded 50%.
Specifically, in October, NEV production and sales reached 1.772 million and 1.715 million units respectively, representing year-on-year increases of 21.1% and 20%. From January to October, cumulative NEV production and sales reached 13.015 million and 12.943 million units respectively, representing year-on-year increases of 33.1% and 32.7%.
Overall, from January to October, cumulative automobile production and sales reached 27.692 million and 27.687 million units respectively, representing year-on-year increases of 13.2% and 12.4%. In October alone, automobile production and sales reached 3.359 million and 3.322 million units respectively, representing month-on-month increases of 2.5% and 3%, and year-on-year increases of 12.1% and 8.8%. The automobile market continued its positive development trend, with monthly production and sales reaching new highs for the same period.
New energy vehicles refer to automobiles that use unconventional vehicle fuels (such as electricity, hydrogen, etc.) as power sources, and integrate advanced technologies in vehicle power control and driving. They are characterized by advanced technological principles, new technologies, and new structures. They mainly include pure electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles.
The following is an introduction to leading companies in China’s new energy vehicle industry chain and their industry positions:
I. Vehicle Manufacturing Sector
- BYD
Company Profile: BYD is a leading global new energy vehicle company, ranked 91st in the 2025 Fortune Global 500 and 5th among China’s top 500 private enterprises.
Industry Position: From January to July 2025, BYD’s cumulative sales of new energy vehicles reached 2.49 million units, a year-on-year increase of 27.35%, maintaining a leading position in the global new energy vehicle market.
Industry Chain Layout: BYD is one of the few companies globally that possesses core technologies across the entire new energy vehicle industry chain, including batteries, motors, and electronic control systems, achieving a comprehensive zero-emission new energy solution from energy acquisition and storage to application.
- GAC Aion
Company Profile: GAC Aion is a new energy vehicle brand under GAC Group, which has developed rapidly in recent years.
Industry Position: In 2022, GAC Aion’s new energy vehicle production and sales reached 37,452 and 33,737 units respectively, representing year-on-year increases of 105.16% and 89.99%, entering the first tier of domestic new energy vehicle manufacturers.
Industry Chain Layout: GAC Group continuously enhances its industry chain competitiveness by launching battery R&D and trial production lines, establishing an energy technology company, and forming strategic partnerships with leading upstream material suppliers.
- BAIC BluePark
Company Profile: BAIC BluePark is an important participant in China’s new energy vehicle industry, and its subsidiary BAIC New Energy is one of the earliest independently operated new energy vehicle companies in China.
Industry Position: The Arcfox brand has ranked among the top-selling new energy vehicle brands, and the HiPhi brand has secured a place in the luxury pure electric vehicle market.
Industry Chain Layout: BAIC BluePark collaborates deeply with global leading companies such as Huawei, CATL, and Magna, focusing on the research and development of core technologies in batteries, motors, and electronic control systems, as well as intelligent connectivity and automated driving assistance technologies.
II. Power Battery Sector
- CATL
Company Profile: CATL is a world-leading power battery and energy storage battery company.
Industry Position: In 2023, CATL’s global market share of power battery usage was 36.8%, ranking first globally for seven consecutive years; its global market share of energy storage battery shipments was 40.0%, ranking first globally for three consecutive years.
Industrial Chain Layout: CATL, through its subsidiary Guangdong Bangpu, has created a closed-loop ecosystem of “battery production → use → cascaded utilization → recycling and resource regeneration.” In 2024, its battery materials and recycling business generated nearly 28.7 billion yuan in revenue.
- BYD
Company Profile: BYD also holds a significant position in the power battery sector.
Industry Position: BYD is actively developing its battery recycling business. As of the end of 2024, it has established two battery recycling plants, recycling over 10,000 tons of power batteries.
Industrial Chain Layout: BYD has created a complete end-to-end industrial chain closed-loop of “battery production—vehicle manufacturing—battery recycling—cascaded utilization—resource regeneration.”
III. Drive Motor Sector
- Jingjin Electric
Company Profile: Founded in 2008, Jingjin Electric is one of the earliest Chinese companies to independently develop electric drive systems for new energy vehicles.
Industry Position: Currently, its electric drive systems have a market share of approximately 15% in the domestic market, and its overseas market supply volume has ranked among the top three Chinese suppliers for three consecutive years.
Industrial Chain Layout: Jingjin Electric has a market share of over 30% in the electric commercial vehicle sector, supplying core components to automakers such as Foton and King Long. It also supplies over 100,000 sets annually to brands such as Chrysler and Jaguar Land Rover in the North American market.
IV. Intelligent Connected Vehicles and Autonomous Driving
- Baidu Apollo
Company Profile: Baidu Apollo is Baidu’s autonomous driving platform.
Industry Position: Baidu Apollo is a leader in the autonomous driving field, collaborating with multiple automakers to promote the commercial application of autonomous driving technology.
- Xiaomi Auto
Company Profile: Xiaomi Auto is a new energy vehicle brand under Xiaomi Group.
Industry Position: Xiaomi Auto successively established operations in the Beijing Economic-Technological Development Area in 2024, committed to building intelligent electric vehicles.
V. Industrial Agglomeration and Regional Development
- Shenzhen
Industry Overview: Shenzhen is an important base for the national new energy vehicle industry, with a new energy vehicle production of 1.73 million units in 2023, ranking first in the country.
Industrial Chain Layout: Shenzhen has leading enterprises such as BYD, and more than 2,400 enterprises in the intelligent connected vehicle industry chain, forming a complete industrial ecosystem.
- Qingdao
Industry Overview: Qingdao has listed the new energy vehicle industry chain as one of its key development areas, actively building a complete industrial system with advanced technology.
Industrial Chain Layout: Qingdao has attracted power battery companies such as CATL and Gotion High-tech, as well as complete vehicle manufacturers such as BAIC New Energy and SAIC-GM-Wuling, with a local supporting rate of 51%.
VI. Industrial Chain Development Trends
Vertical Integration and Horizontal Expansion: Leading enterprises strengthen their control and synergistic effects on the industrial chain through vertical integration and horizontal expansion, such as BYD’s complete industrial chain layout from batteries to complete vehicles.
Technological Innovation and Internationalization: Companies continuously increase R&D investment, promote technological innovation, and actively expand into international markets to enhance global competitiveness.
Policy Support and Industrial Ecosystem: The government promotes industrial agglomeration and coordinated development through policy guidance and support, building a complete new energy vehicle industrial ecosystem.
