EV Industry

Jiyue CEO unveiled 4 priorities, including merging positions and cutting projects that won't improve financial performance in the short term.

Domestic NEV sales in November reached a record high for the third consecutive month at 1,429,000 units, according to data from the CAAM.

Retail sales of NEVs in China exceeded 1 million for the fourth consecutive month in November, although penetration declined sequentially for the third time in a row.

China's retail penetration of NEVs was 52.2 percent in November and 47.36 percent year-to-date.

This is the fifth time that China's monthly NEV wholesale sales have exceeded 1 million units.

A total of 1,171 vehicles were on display at the 2024 Guangzhou auto show, of which 512 were NEVs, with NEVs on display in almost all booths.

China's NEV penetration at retail is expected to be 53.3 percent in November, up from 52.9 percent in October.

Retail sales of all passenger cars in China totaled 1.11 million units in the November 1-17 period, up 30 percent from a year earlier and up 3 percent from a month earlier.

Global public EV charging pile deployment is constrained by land availability and grid planning, compounded by slowing NEV market growth, TrendForce said.

China's export growth for BEVs is expected to slow to 9 percent this year, with its contribution to passenger car exports falling to 19.0 percent in 2024 from 22.5 percent in 2023, Canalys said.