China's NEV sales to hit 3 million in 2021 - PingWest

China's NEV sales to hit 3 million in 2021

China Association of Automobile Manufacturers (CAAM) said on Tuesday that sales of new energy vehicles (NEV), which include electric cars and plug-in hybrids, are expected to hit 3 million units this year in China.

Details:

The estimate came after the country's NEV production and sales hit a record in September. The country produced 353,000 new energy vehicles in September, a year-on-year increase of 148.4% and an increase of 14.5% compared to August.

Last month, NEV sales rose by 148.4% over the same period and by 11.4% from August, to 357,000 units, the first time that both monthly output and sales have exceeded 350,000 units, according to data from CAAM. 

Xu Haidong, the association's deputy chief engineer, said he expects their sales will grow at a fast pace as well in the fourth quarter.

Shenzhen-headquartered BYD was the best-selling NEV producer in the country last month. It delivered over 70,000 electric cars and plug-in hybrids, up 276.4 % year-on-year.

American automaker Tesla ranked second. It has produced about 56,000 electric vehicles in the Shanghai plant and sold more than 52,000 in the country. 

Chinese startups Nio and Xpeng each saw their monthly sales exceed 10,000 units for the first time in September.

Context: 

China is accelerating its transition to a low-carbon emission society. Beijing announced the development plan for the NEV industry for the period 2021-2035, with the goal of reaching 20% of the country’s total vehicle sales by 2025.

Currently, NEV sales account for 17.3% of its total vehicle deliveries, with a 19.5% proportion for new energy passenger vehicles, according to CAAM.

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