China NEV Market

The huge market demand generated by China's new energy industry chain has led to a large number of companies actively raising capital to expand their production capacity.

Wholesale sales of new energy passenger vehicles in China reached 227,000 units in June, up 14.7 percent from May and 165.7 percent year-over-year.

China's NEV penetration could reach 30 percent by 2025, and even 60 percent in first-tier cities where there are restrictions on car purchases, he said.

The number of newly registered new energy vehicles in the first half of the year was a record high of 1.103 million, an increase of 774,000 units or 234.92 percent compared with the same period last year.

It is worth noting that the electric car companies that have now announced their June sales are all performing strongly.

The rapid growth of the new energy vehicle industry has put China on the edge of a new technological revolution. What does this mean for investors? What trends are coming?

New energy vehicles have been one of the most discussed topics in China over the past year, and in the view of analysts, their replacement of traditional fuel vehicles is proceeding at a high rate.

After shaking off the effects of last year's Covid-19, deliveries by China's major new car makers have all come to normal levels, putting them close to last year's full-year deliveries for the first five months.

By the end of May 2021, China had about 5.8 million new energy vehicles, accounting for about 50 percent of the world's total, Xinhua news agency said Friday.

In the next five to eight years, China will gradually phase out and replace about 200 million vehicles with exhaust emissions that meet only "China IV" standards and below, giving the electric vehicle market huge space.