Although electric vehicles (EVs) did not grow as rapidly as some expected in 2024, global sales have started 2025 with much stronger momentum.   New data shows EV sales are growing at record levels across all major global markets. While this trend is evident, policy changes under the Trump administration—particularly subsidy cuts and new tariff policies—could begin to curb this growth as time progresses.   Recently, EV intelligence research firm Rho Motion reported that global EV (battery electric vehicles + plug-in hybrids) sales reached 1.7 million units in March 2025, with 4.1 million units sold in the first quarter of 2025. Compared to March 2024, the EV market grew by 29% in March 2025, and by 40% compared to February 2025.   This growth is primarily driven by the sustained strong momentum in China and Europe. While growth rates remained flat compared to previous months, geopolitical factors have begun influencing regional performance—especially in North America. Sales in the rest of the world grew by 27% in the first quarter, reaching approximately 300,000 units.   Charles Lester, Data Manager at Rho Motion, commented: "Despite the turbulent landscape, the global EV market showed robust growth in the f

Industry Focus   I. Policy Intensification: Central SOE Restructuring and Anti-Overcompetition Measures At the 2025 China EV 100 Forum, multiple ministries including the National Development and Reform Commission (NDRC) and State-owned Assets Supervision and Administration Commission (SASAC) announced strategic restructurings for central state-owned automakers such as FAW Group, Dongfeng Motor, and Changan Automobile. This initiative aims to integrate R&D, manufacturing, and market resources to create globally competitive automotive conglomerates. Data shows direct NEV investments by the three central SOEs grew 35% year-on-year in 2024, with self-owned brand sales reaching 1.75 million units (+80% YoY). The restructuring represents dual-driven measures to deepen state-owned enterprise reforms and respond to industrial transformation, accelerating core technology breakthroughs through increased industrial concentration.   Addressing long-standing disorderly competition, the NDRC launched a special rectification campaign targeting price wars, false advertising, and local protectionism. The 2024 automotive industry profit margin dropped to 4.3% – below the industrial average – as companies sacrificed profitability for market share, leading to quality safety risks and non-compliant technical standards. The Ministry of Industry and Information Technology (MIIT) revised production access regulations, improved exit mechanisms, and initiated online anti-unfair competition enforcement, shifting the sector from "scale expansion" to "quality-driven" growth.   II. NEV Market Receives New Policy Dividends The Ministry of Commerce expanded the "old-for-new" vehicle replacement policy, allocating 300 billion yuan in 2025 special treasury bond support funds for green intelligent p

European Union imposes countervailing duties on China, electric vehicles export encounter resistance On October 29, 2024, the European Union (EU) Commission released the final ruling of the anti-subsidy investigation into electric vehicles (EVs) imported from China. Starting from October 30, on top of the original 10% tariff, the EU imposed an additional anti-subsidy duty of up to 35.3% on EVs produced in China and exported to the EU market, valid for five years. According to the final ruling document, the EU imposed additional tariffs of 17%, 18.8%, and 35.3% on three sampled enterprises—BYD, Geely, and SAIC Motor, respectively. The rate for other "cooperative companies" was 20.7%, while that for other "non-cooperative companies" was 35.3%. Tesla was subject to a separate 7.8% tariff. Adding the 10% basic customs duty, Chinese-produced EVs exported to the EU may face a maximum total tariff of 45.3%. Since the EU launched the anti-subsidy investigation in October 2023, sales of Chinese-made EVs in Europe have shown declines and fluctuations. It is noteworthy that although the tariff increase has taken effect, this is not the final outcome. Both China and the EU have confirmed that price commitments will continue to be pursued as a solution, and are studying possible minimum price commitments by Chinese producers or investment plans in Europe. Ch