EV Industry

The CAAM deputy chief engineer Xu Haidong said Saturday that preliminary estimates suggest China's auto sales could grow 6.5 percent this year, up from the 4 percent forecast in January.

The chip shortage is expected to ease from the third quarter, especially from the fourth quarter, and it is possible to make up for the loss, he said, adding, "We don't think it will have an excessive impact on full-year sales."

By the end of May 2021, China had about 5.8 million new energy vehicles, accounting for about 50 percent of the world's total, Xinhua news agency said Friday.

Nio's first second-generation battery swap station in Yangzhou City, Jiangsu Province, in eastern China, is in operation, bringing its total number of such energy replenishment facility in China to 261.

In the next five to eight years, China will gradually phase out and replace about 200 million vehicles with exhaust emissions that meet only "China IV" standards and below, giving the electric vehicle market huge space.

Perhaps seeing the huge success of central China's Hefei city in its investment in Nio, another Chinese city is upping the ante on the new energy vehicle industry.

The current deadline for China's vehicle purchase tax exemption for new energy vehicles is December 31, 2022.

Baoneng New Energy Vehicle Group, a subsidiary of the Baoneng Group, has received support from the Guangzhou government, with a strategic investment of RMB 12 billion from local state-owned enterprises.

Demand in China's auto industry was not fully released in the first half of the year due to tight chip supply, and as the issue improves, the second quarter will be the worst period for the industry's performance, CITIC Securities said.

OPPO's car-building project is still in the research phase and has not been officially launched yet, but executives from the company recently visited Li Auto to speed up the plan.