BEIJING, March 18 (Xinhua) -- Global new energy passenger car sales are predicted to exceed 39 million units by 2030, said a report obtained during the China EV100 Forum 2024 concluded Sunday in Beijing.

That will mark a penetration rate of almost 50 percent, rising from the nearly 20 percent in 2023 with the sales of over 13 million units, according to the report issued by China EV100, a new energy vehicle (NEV) industry think tank, and McKinsey & Company.

The past decade has seen unprecedented changes in the global NEV industry, especially in terms of the market landscape, consumer preferences, technological capabilities and supply chain systems, said the report titled "Racing to 2030: Outlook on the Development of Global EV Industry."

Though the global NEV penetration rate is rising rapidly, regional differences in the NEV development have become increasingly apparent, the report noted.

By 2030, the penetration rates of new energy passenger cars in the European Union, South Korea, and the United States are anticipated to reach 65 percent, over 55 percent, and over 50 percent respectively, it said.

By contrast, those of Japan, India, Southeast Asia, and Latin America are estimated to achieve 27 percent, 10 percent, 30 percent, and 14 percent respectively.

That of China will approach 70 percent by 2030, with Chinese auto companies likely to rank among the top ten global sellers, the report predicted.

"The (Chinese) market has entered a new phase of commercialization, driven even more by technology innovation and consumer preferences," Timur Gul, chief energy technology officer of the International Energy Agency, said in his video address to the forum.

The rapid NEV industry development is closely related to the constant technological innovation in batteries and motors, which contributes to the electrification and popularization of NEVs, the report said.

With advanced technologies such as intelligent driving and generative AI, NEVs can offer better intelligent service experience, it added. Enditem

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