EV Industry

By the end of June, China's pure electric vehicle ownership stood at 12.594 million, accounting for 77.8 percent of total NEVs.

The statement in the pledge, "not to disrupt the fair competition order of the market with abnormal prices," was inappropriate and inconsistent with the principles of China's anti-monopoly law, the CAAM said.

Auto industry players should not disrupt fair competition with abnormal prices and should avoid cutting prices in a reckless manner, a MIIT official said.

These car companies have pledged to regulate their marketing activities and not to disrupt the order of fair competition in the market with abnormal prices.

Chinese automakers have now crossed the inflection point for global influence, with local brands expected to hold 65 percent of the market share in China by 2030, AlixPartners said.

This is below the CPCA's June 25 estimate of about 670,000 units.

In the first half of the year, wholesale sales of passenger NEVs in China are expected to be 3.53 million units, up 44 percent year-on-year.

Western Europe is a traditional stronghold for international carmakers, and it's difficult for Chinese brands to stand out, TrendForce said.

Retail penetration of NEVs in China was 36.92 percent from June 1 to June 25, and 32.50 percent year-to-date.

Kia has not yet announced pricing for the EV6 in China, which starts at $42,600 in the US.