China NEV Market
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Shenzhen brings new policy support for NEVs by offering free parking hours
From now until the end of next year, users of NEVs in Shenzhen will be able to enjoy at least one hour of free parking per day.
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China's NEV purchase tax incentive, set to expire at year-end, expected to continue
A senior Chinese official said support policies, including the renewal of the purchase tax incentive for NEVs, need to be studied and clarified to stabilize market expectations.
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China's NEV fleet reaches 7.84 million, 81.6% BEVs
This represents only 2.6 percent of China's total vehicle fleet, implying huge room for growth.
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China ranks first in global NEV sales for seven consecutive years
China also saw important progress in vehicle intelligence last year, with sales of passenger cars equipped with assisted driving systems accounting for 20 percent of all new vehicle sales.
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China sells 531,000 NEVs in Dec, up 114% year-on-year, CAAM data show
In 2021, China's NEV sales were 3.521 million units, up 157.5 percent year-on-year.
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China's latest subsidy policy a boon for NEV industry because of removal of cap on vehicle units, CPCA says
Previously China provided subsidies for up to 2 million NEVs per year.
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China's wholesale sales of passenger NEVs reached record 505,000 units in Dec, CPCA data show
China's December new energy passenger vehicle sales set another record, with many consumers buying such models before subsidies are reduced.
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CPCA head expects China's NEV sales to top 6 million in 2022 as consumers seize final subsidies
He expects China's NEV sales to increase significantly by the end of 2022 before subsidies are removed in 2023.
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China's subsidies for NEVs will be reduced by 30% starting tomorrow and will no longer be available starting 2023
China's purchase subsidies for NEVs will be reduced by 30 percent in 2022, and no more subsidies will be provided in 2023.
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Prominent economist says NEVs have most potential to replace real estate in economic contribution in China
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.
