EV Industry

In January, China's wholesale sales of passenger NEVs were estimated at 900,000 units, up 31 percent from a year earlier but down 40 percent from December, the CPCA said.

Greenland aims to achieve annual exports of 100,000 NEVs over the next three years.

Retail sales of all passenger cars in China for the January 1-19 period were 1.05 million units, down 5 percent from a year ago and down 27 percent from a month ago.

China's auto market is expected to continue to show seasonality at the start of the year, with overall passenger car retail sales expected to be around 1.75 million units, down 33.6 percent from the previous month.

China's BEV ownership stood at 22.09 million units at the end of December, accounting for 70.34 percent of the total 31.4 million NEVs.

Retail and wholesale sales of passenger NEVs in China fell sharply in the January 1-12 period compared to the same period last month.

For the full year of 2024, China's NEV sales amounted to 12.866 million units, contributing 40.9 percent of the total vehicle sales of 31.436 million units.

Shenzhen produced 2,935,300 NEVs in 2024, a local official said.

China's retail penetration of NEVs stood at 49.4 percent in December, marking the fourth consecutive month of decline and the first time since June that the penetration rate has fallen below 50 percent.

China's NEV retail penetration was 52.6 percent in December and 47.97 percent in 2024, according to preliminary CPCA data.