EV Industry

The NEV penetration rate is expected to reach a record 45.5 percent in March as it reversed the pre-holiday slump and rose rapidly, the CPCA said.

China's NEV retail penetration rebounded to 48.0 percent in the March 1-17 period.

Retail penetration of NEVs in China rebounded to 43.38 percent in the March 1-10 period.

From March 2023 to February 2024, the average monthly number of newly added public charging piles were about 80,000 units.

Excluding exports, domestic NEV sales in February totaled 395,000 units, down 9.8 percent year-on-year and down 37.2 percent from January.

Jiyue is offering a 3-year interest-free loan program for the Jiyue 01, which it said will save customers up to RMB 23,659.

Retail penetration of NEVs in China was 35.8 percent in February, up 2.9 percentage points from 32.8 percent in January.

In February, China's retail sales of all passenger vehicles totaled 1.092 million units, down 21 percent year-on-year and down 47 percent from January.

HiPhi said that the X, Y and Z series models that have been mass-produced were developed by the company itself, or jointly with supplier partners, and have its own intellectual property rights.

China will tweak its policy to give the three centrally-administered automakers a separate assessment of their NEV businesses, a senior official said.