China's electric car market is headed for a sharp slowdown in 2025, according to analyst predictions, increasing pressure on companies trying to survive.

Sales of all types of electric vehicles rose more than 40% in China last year, while those of gasoline-powered automobiles plunged, industry data showed Monday. A total of 31.4 million vehicles including buses and trucks were sold last year in the world's biggest market by sales,

Electric car sales rose by 25 per cent globally last year, surging in China but slowing in Europe, according to figures published Tuesday by the British consultancy Rho Motion. A record 17.1 million battery electric vehicles (excluding plug-in hybrids) were sold last year across the world, according to figures compiled by the firm.

Sales of electric and hybrid vehicles jumped more than 40 percent in China last year, as demand for new energy models continues to surge and the sector remains entrenched in a gruelling price war.

China's electric car boom came about primarily because of the country's subsidies and incentives on electric vehicles (EVs).