Electric vehicle giant BYD predicts 80% of China car sales will soon be electric

08 September 2025, Bavaria, Munich: Stella Li, Vice President of the car manufacturer BYD, speaks during a presentation by the manufacturer BYD at the press day of the International Motor Show IAA (IAA Mobility, International Motor Show) at the company's stand in a hall of Messe München (Bavaria, Germany) on September 8, 2025. Picture Alliance | Picture Alliance | Getty Images At a time when electric vehicle sales growth in China has been slowing, BYD expects the country's EV market to expand — quite in contrast to smaller rival Nio that recently said the industry's " golden era " was over. "With all the innovation technology introduced to the market, China's market very quickly will push to ... close to 80% in EV penetration," BYD's Executive Vice President Stella Li told CNBC's Arjun Kharpal on Monday. Thanks to state support and a flood of car options, the penetration rate of hybrid and battery-only vehicles has grown rapidly in just a few years, exceeding half of new passenger cars sold in 2024 and a record 62.9% last month, according to the Chinese Passenger Car Association. The U.S. electric car penetration rate remains at just around 10% , while that figure is roughly 25% globally, the International Energy Agency said last month. U.S. tariffs of 100% on China-made electric cars have restricted local sales. BYD along with some other firms was put on the Pentagon's list of Chinese military-affiliated companies on Monday. …