EV Industry

These charts show the sales performance of BEV models in different price ranges in June.

In the second half of the year, the electrification trend will continue at an accelerated pace as premium models become available and subsidies recede causing people to purchase vehicles earlier, the team said.

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).