EV Industry

China's NEV production for the full year 2024 is expected to exceed 12 million units.

China's retail sales of all passenger vehicles in the November 1-10 period were 567,000 units, up 29 percent from the same period last year, but down 3 percent from the same period last month.

Domestic NEV sales stood at 1.3 million units in October, marking the second consecutive month of record highs.

Retail sales of NEVs in China reached a record high in October, but NEV penetration declined slightly due to faster growth in gasoline vehicle sales.

China's NEV penetration at retail stood at 54.38 percent in October and 46.92 percent year-to-date, according to preliminary CPCA data.

As of now, all provinces in China have implemented the car replacement subsidy policy and brought a new wave of growth momentum to the automative market, the CPCA said.

China's retail penetration of NEVs was 52.2 percent in October 1-27, and 46.46 percent year-to-date.

Renault is building an EV R&D team in Shanghai to target mass production of a new model by the end of 2025, but the new model will be built and sold only in Europe, according to a media report.

In October, retail sales of passenger NEVs in China are expected to be at 1.15 million units, up 49 percent year-on-year and up 2.4 percent compared with September, according to estimates released today by the CPCA.

China's NEV retail sales slowed last week, dragging down the month-to-date performance.