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in china electric car sales increased by 154 percent in 2021 with warren buffett's byd actually beating tesla hello my friends and welcome to the electric viking my name is sam evans i'm coming to you here from melbourne australia welcome to the channel all you new subscribers great to have you here welcome back to everyone else you know what 2022 is going to be even better than 2021 yes i know i'm talking about 2021 today but that's because 2021 absolutely smashed it out of the park when it came comes to electric car sales especially in china and china is a country that's going to lead much of the world when it comes to car sales over the next decade reason in point they have the world's biggest car market and by far the world's largest electric vehicle market now unfortunately 2020 and the previous year 2019 didn't do much for electric cars in china but all of a sudden in 2021 things drastically changed now electric vehicles in china skyrocketed by 154 last year and that was despite a global slowdown in auto sales owing to the crunch in semiconductor supplies as more consumers started to opt for greener cars and the reality is consumers are just waking up to the fact that they can get new technology that's way better than the old technology they're saying i don't want that old technology it's garbage and if you have a look at well here's one of the key issues this mult many stories coming out of countries like norway and people saying you know i bought this ice car this gas-powered car last year i'm trying to sell it this year i can't even get half of what i paid for it when will that happen it's like the point in which people said i bought this nokia phone for a thousand dollars last year you know before smartphones came out and while smartphones came out and now it's worth nothing essentially maybe one tenth of what it was worth when they bought it when does that happen it's going to happen at some point isn't it according to industry analyst zozo more consumers are just losing interest entirely in ice vehicles zozo go says that there were 3.3 million vehicles they were electric sold in china last year that's an increase from 1.3 million in 2020 and 1.2 million in 2019.
now ev sales worldwide actually increased by 70 percent last year or at least in the first 11 months of the year with china obviously massively outpacing that growth now byd what's going on with them well the shenzhen based company backed by warren buffett haven't heard of byd well you know if you're watching this channel you need to know about byd you really need to know about byd if you want to have or any sense of an idea of what's actually going on in the world when it comes to electric cars and batteries so i'll put some links in the description below to some of the videos i've made about byd the founder of byd fascinating person his parents actually died when he was a boy and then his brother and his sister raised him incredible story i'll put a link in the description below to that video as well it's been a really popular video anyway warren buffett actually invested in byd all the way back in 2008 berkshire hathaway his company still own about eight percent of the company they've never sold their shares and this has been i think their best growth stock over the last 15 years they've literally made billions on that investment in byd anyway byd grabbed pole position in china shipping out 604 000 vehicles that's an increase of 218 percent on the year before meanwhile tesla came in second place in china selling 240 000 vehicles during 2021 that means they accounted for 26 of the texas based companies global sales i think it's likely tesla would have sold a lot more vehicles in china but the reality is they've been trying to ship them out to australia to new zealand to south africa to asia to europe from their chinese factory so once that chinese factory ramps up next year in 2022 i think we'll see a significant increase in the number of tesla vehicles being sold in china right now they have a similar demand problem well the problem is not the amount of demand the problem is the amount of cars they can produce there's getting to be long wait lists now in china as well for tesla's electric cars now although china's other domestic electric vehicle manufacturers trailed tesla and byd by quite a lot in terms of total unit sales including leoto x-punk neo and let's not forget the company baic blue park who actually sold more electric cars than any other company in the world back in 2017 plus their company arc fox plus wm motor leap motor and neta most of whose sales increased by around about two hundred to three hundred percent last year for example sales of beijing based lee auto soared by a hundred and seventy eight percent even though they had they only have one single model now shanghai based neo increased its sales by a hundred and ten percent to ninety one thousand four hundred and thirty units meanwhile expon leaped 263 percent shipping over ninety eight thousand units then you've got neeta hozon autos electric car brand or joseon auto is an electric car brand but anyway nita sold 10 000 electric vehicles in the month of december alone meaning that sales increased by 362 percent year-on-year same goes for leap motor who are up 370 percent year on year and what about the incredible whirling hong one mini which sold more than 50 000 electric cars in china alone in december now zozo go ceo michael dunn says that china's exponential growth in electric vehicle sales last year shows that the market has finally got real traction after a decade of the government stimulating industry growth through subsidies for ev consumers and companies one thing that's happened right guys is the market simply matured the products have become better much more a much higher quality batteries now companies are saying will last for more than a million kilometers the younger generation is basically saying we don't want crappy old ice vehicles i mean look at the younger generation in china they're simply buying electric cars on mass if you look at the actual electric car sales for micro cars which the younger generation can afford they're pretty much all electric now now beijing though will remove subsidies for electric cars by the end of 2022.
so this will make the overall cost of evs a little bit more expensive in china but most analysts are saying this is going to make no difference to the incredible rapid rise of adoption electric cars they're saying that there's enough momentum for sales to continue and expectations are the market will double in china next year to over 6 million electric car sales now dunn himself predicts that china's electric vehicle sales will top 6 million units in the year ahead which would be an 81 increase on last year so that's a pretty small increase in comparison to the increase in 2021 over 2020 which was 154 so if we only increase by 81 next year the market's going to hit more than 6 million now every sales growth must continue in order to satisfy government demands what the government demands in china it happens basically that's the way it is there now beijing has mandated that by 2035 all new car sales must be either electric or hydrogen powered even though no companies in china make hydrogen powered cars making the phase out of combustion engines just an inevitable foregone conclusion but regardless of that change consumers have all come already shifted their appetite free vs now essentially if the car is not an ev it's not a luxury car so wooling the company i've mentioned on this channel many times who make the hongman mini ev the most popular electric car in china which happens to cost about five thousand us dollars it's an incredible incredible vehicle for the price if you think about it this way right thousands of people pay for electric bikes more than what this entire car costs now whirling is a brand that's not really well known outside of china and it's the product of a joint venture between whirling general motors and the shanghai-based saic now this tiny little no-frills three-door electric vehicle retails for four and a half thousand us dollars and it's nearly the same size as a smart car which was designed to be as long as a regular car is wide this means that drivers can actually park them perpendicular to the curb in other words you can get in you can park more than twice as many cars in small congested cities it makes a lot of sense for some of the most congested cities in the world now whirling sold 380 000 units last year far more than tesla's china sales but because this simplistic car is a different consumer segment the model is often overlooked in china's sales rankings however this micro car segment will play a huge part in china's electric car market next year there's a swathe of other brands coming into the market with their own impressive small electric cars i've made some videos about some of them i'll put some links in the description below if you want to check out those cars they're very interesting but here the big thing to remember is the new model of the willinghong one mini ev which will cost only about six thousand us dollars after subsidies will have a 300 kilometer range a 300 kilometer range for a car costing 6 000 us dollars just imagine the demand for this car remember the chinese population still has a very low car ownership compared to western nations there's a long way to go when it comes to electric car sales in china thanks for watching the channel and i'll see you again on the next one bye-bye
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