BEV Sales Surge as PHEV Market Share Declines

From January to May 2026, domestic extended-range electric vehicle (EREV) wholesale sales totaled 410,000 units, down 9.7% year-over-year; in May alone, wholesale sales declined by 24.9% year-over-year. During the same period, the overall penetration rate of new energy vehicles (NEVs) reached 62.9%, with battery electric vehicles (BEVs) capturing 67% of the NEV market share, while EREV share dropped to 7%. BEVs have ranked as the top-selling segment in the large SUV category for six consecutive months. In May, BEV wholesale sales rose 16.6% year-over-year. As of that time, China had built 8,981 charging and battery-swapping stations nationwide. An online poll showed that 93.4% of respondents preferred BEVs. Consumer concerns about electric vehicles center on battery longevity, health, and safety, with battery-as-a-service (BaaS) and battery-swapping models seen as viable solutions—battery swapping, in particular, has been validated by the market and has become one of the mainstream refueling alternatives.