There are now 452,000 NEV-related companies in China, with the significant growth in that number occurring mainly in the past three years.
China has added 180,000 new energy vehicle (NEV)-related companies in 2021, bringing the total to 452,000, according to information released yesterday by data provider Qichacha.
NEV-related companies are those that include the keyword NEV in their company name, products and scope of business, the data provider said.
The significant increase in the number of such companies is mainly in the past three years, with 52,000 in 2019 and 85,000 in 2020, according to the data.
Shandong, in eastern China, is the province with the highest number of such companies, with 51,000, followed by Guangdong with 46,000 and Jiangsu with 36,000.
In terms of cities, Chengdu and Shenzhen are those with the most such companies, both with 16,000. Guangzhou has 13,000 and Haikou has 11,000.