China NEV Market

Supporting the consumption of NEVs is part of China's drive for a sustained recovery in consumption.

The CAAM previously said that China's NEV sales are expected to reach 5 million units this year, up 42 percent year-on-year, with a market share expected to exceed 18 percent.

Several car companies, including Li Auto, Geely, WM Motor, Zeekr, and BYD, participated in the first preparatory meeting.

There are now 452,000 NEV-related companies in China, with the significant growth in that number occurring mainly in the past three years.

January sales of pure electric passenger cars were 335,000 units, up 127.3 percent year-on-year, while sales of plug-in hybrids were 85,000 units, up 198.3 percent year-on-year.

This was down 18.5 percent from December, which the CPCA said was consistent with the characteristics of the same month last year.

With China now having three times as many NEVs as charging facilities, the difficulty of charging was once again highlighted during the holiday season.

During non-holiday periods, these facilities can be relocated to charging stations in urban areas where charging demand is high.

China aims to form a moderately advanced, intelligent and efficient charging infrastructure system by 2025.

China's NDRC has released a new proposal that again mentions support for the NEV industry and the battery swap model.