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Golden Dragon Capital Limited takes pride in contributing towards the decarbonisation and electrification of the global economy

In recent years governments and auto companies around the world have actively started promoting agendas associated with the decarbonisation and electrification of the global economy. Importantly, the production and sales of environmentally friendly new energy vehicles such as electric vehicles and plug-in hybrid vehicles would be advocated and the production and sales of traditional internal combustion engine-based vehicles are gradually to be reduced and ceased.

Firstly, in 2022, global EV sales exceeded 10 million, representing 14% of all new cars sold. Moreover, this was a substantial increase from around 9% in 2021. Secondly, in 2023, the momentum continued with EV sales reaching 1.8% of global vehicle sales.

Lastly, the total number of EVs sold globally in 2023 is expected to exceed 14 million, vehicles which represents a 40% year-on-year increase from 2022. Moreover, this growth is projected to continue, with EV sales estimated to make up half of new car sales globally by 2035.

The top-selling EVs worldwide as of August 2023 were the Tesla Model Y and Tesla Model 3, with 772,364 and 364,403 vehicles sold respectively. Notably, Chinese EVs also saw a rise in sales, with three models from BYD among the top-selling EVs.

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