EV Industry

He expects China's NEV sales to increase significantly by the end of 2022 before subsidies are removed in 2023.

Three of the four show cars at Xpeng's flagship store in Beijing were sold at the beginning of the month and have not yet been restocked.

China's purchase subsidies for NEVs will be reduced by 30 percent in 2022, and no more subsidies will be provided in 2023.

Although the NEV industry currently contributes less than a tenth of what real estate does to the economy, it is growing at a very fast pace, according to Ren Zeping.

That's 12 days earlier than originally planned, and Evergrande will hold an official roll-out ceremony for its first vehicle in early January next year, local media said.

Beijing's quota for fuel car license plates has been reduced from 40,000 in 2021 to 30,000 in 2022, and the quota for NEV license plates has been increased from 60,000 to 70,000.

The exclusive coverage is expected to see a drop in insurance costs for about 80 percent of NEV owners, but some users say Tesla is facing significant premium increases.

For more than two decades previously, China has had strict restrictions on the share ratios of Chinese and foreign joint ventures in automobiles.

Volkswagen China is working with DJI to develop advanced assisted driving features, according to the China Securities Journal.

Jidu will unveil its first concept robot car in the first half of 2022, with mass production and delivery in 2023.