EV Industry

The CAAM said China's NEV sales are expected to reach 5.5 million units in 2022, up 56 percent year-on-year.

Against the backdrop of the halving of the ICE vehicle purchase tax, not only were NEVs unaffected, they improved more than expected sequentially, the CPCA said.

The EV has 8.1 square meters of solar panels and generates a maximum of 7.6 kWh of electricity per day on a sunny day.

In the meantime, stocks in the NEV industry chain in China's A-share market soared, with Gotion High-tech up 7.26 percent and CATL up 4.86 percent.

The Hengchi 5 offers a competitive price, though a question mark remains as to whether consumers will buy it, given Evergrande's debt concerns.

The first of the measures, developed by 17 government departments, is to support the purchase and use of NEVs.

Of these, 8.1 million are pure electric vehicles, accounting for 80.93 percent of the total number of NEVs.

The HiPhi Z features a futuristic design and a price tag of up to 800,000 yuan ($119,280).

Evergrande NEV will allow the first 10,000 consumers to pay for the car when it is delivered, with 15 days to return it and receive a refund.

Ganfeng is suspected of insider trading in the shares of a company listed on China's A-share market, according to an announcement.