EV Industry

The trends presented by the two data are consistent most of the time, but sometimes they may be inconsistent or even differ.

China's NEV sales in August were 321,000 units, up 181.9 percent from a year ago and 18.6 percent from July.

China's auto industry is expected to enter the inventory-raising phase, with manufacturers' production and wholesale volumes expected to pick up, the team said.

The move is intended to direct car companies to areas with low capacity utilization and to close plants that were built in the past few years but are now in surplus, the report said.

Effective immediately, these platforms are not allowed to grant new access to non-compliant vehicles and drivers and should accelerate the retirement of non-compliant drivers and vehicles.

Retail penetration of new energy vehicles in China, their share of total sales of all vehicles, reached 17.1 percent in August.

The project will be based on Sinopec's in-house developed technology and will be put into operation in the first quarter of next year.

August retail sales of luxury cars in China were 278,000, down 9.4 percent year-on-year, according to a recent report by the China Automobile Dealers Association.

Geely said the Covid-19 outbreak in some regions and a global chip supply shortage affected its deliveries in August, but retail sales were still at an all-time high for the same period.

Officials from China's top economic planner, the National Development and Reform Commission, recently researched the "battery swap model" of new energy vehicles and its application in Beijing.