Nearly half of first-time car buyers in China plan to purchase a pure electric vehicle, according to a new Bloomberg Intelligence survey.
Why it matters: This surge in EV preference comes just as China slashes its purchase tax incentives, suggesting the market may finally be weaning off subsidies.
The Details
- About 47% of prospective first-time car buyers planned to choose an EV in November, nearly doubling from 25% in February 2025.
- Among existing car owners, 52% said their next purchase will be battery-powered, up from 34% in February.
- New-energy vehicles (EVs and hybrids combined) are on track to exceed 50% of China’s new-car sales for the first time ever.
- Affordability, model variety, and improved charging were cited as top reasons for the shift.
- The survey polled 1,000 people in China who indicated they planned to purchase a car within 12 months.
By The Numbers
First-Time Buyer Powertrain Preferences (Nov 2025):
- BEV (Battery Electric): 52%
- ICE (Gasoline): 19%
- PHEV (Plug-in Hybrid): 12%
- HEV (Hybrid): 9%
- EREV (Extended Range): 8%
Fast-Charging Technology:
- BYD (5-minute charge): 400 km (250 miles) of range
- CATL (5-minute charge): 520 km (323 miles) of range
- China’s 2027 charging target: 28 million facilities (50%+ increase)
EVXL’s Take
This survey reveals something remarkable: Chinese consumers are choosing EVs even as the government pulls back support. Starting January 1, 2026, China’s NEV purchase tax exemption gets cut in half, from 30,000 yuan ($4,200) to just 15,000 yuan ($2,100). By 2028, it disappears entirely. Yet buyer intent is surging.
The real story here is technology, not policy. BYD and CATL now offer 5-minute charging that delivers 250 to 323 miles of range. When refueling an EV takes as long as filling a gas tank, range anxiety becomes irrelevant. China’s EV market is finally reaching the tipping point where the product sells itself, and that is bad news for legacy automakers still betting on hybrids as a transition strategy.
Frequently Asked Questions
How many first-time Chinese car buyers want an EV?
About 47% of prospective first-time buyers plan to purchase a battery electric vehicle, according to the November 2025 Bloomberg Intelligence survey.
How fast can Chinese EVs charge now?
BYD’s latest models add 400 km (250 miles) of range in five minutes, while CATL batteries offer 520 km (323 miles) with the same charge time.
Are Chinese EV subsidies ending?
China’s purchase tax exemption drops by half in January 2026 and phases out completely by 2028.
