EV Industry

Guangdong Province wants its auto manufacturing revenue to exceed RMB 1.1 trillion ($170 billion) by 2025, and to build an auto cluster with international influence by then.

China's auto sector continues to receive positive support and the certainty of recovery is increasing, Guotai Junan Securities said.

This is mainly due to the fact that its new energy vehicle business is still in the investment stage, with the purchase of fixed assets and equipment, R&D-related costs and interest expenses.

Cui made the call based on the rapid growth of China's new energy vehicle industry this year, saying he believes the CPCA's June forecast for new energy passenger vehicle sales to reach 2.51 million units this year was conservative and will be revised upward in the future.

SAIC-GM-Wuling Hongguang Mini EV sold 30,706 units in July, ranking first in China's new energy vehicle market for the 11th consecutive month since its launch, the company said Monday.

The pilot industry focus is on cabs, ride-hailing services, buses, passenger shuttles, and medium and heavy commercial vehicles.

The cost and selling price of hydrogen energy has dropped by about 50 percent in the last four years, and production and sales of hydrogen-fueled vehicles have skyrocketed, CCTV reported on Friday.

The number of fuel cell-related capacity planned in China far exceeds market capacity, increasing the risk of overcapacity, said an article published by the official media Economic Daily on Aug. 8.

More and more local governments in China are introducing measures to accelerate the acceptance of new energy vehicles.

With the chip problem eased and manufacturers' production capacity gradually restored, the previously suppressed market demand will gradually be released, and auto sales are expected to increase in August, the China Automobile Dealers Association (CADA) said.