China's Jiangsu produced a record number of NEVs in the first seven months - Pin...

China's Jiangsu produced a record number of NEVs in the first seven months

China's Jiangsu produced a record number of NEVs in the first seven months

6 hours ago

In the first seven months of 2022, the production of new energy vehicles (NEVs) in East China's Jiangsu province reached a record high, surpassing the total NEV production of the economic powerhouse in 2021, according to local authorities.

According to the provincial department of industry and information technology, Jiangsu saw its vehicle production increase 26.1% year-on-year to 797,000 from January to July, which included an output of 289,000 NEVs, a 1.8-fold increase year-on-year compared with the same period last year.

In the first half of 2022, the province's 163 key enterprises in the power and energy storage battery industry achieved a total output value of 120 billion yuan ($17.4 billion), a year-on-year increase of 84.6%, accounting for 38.8% of China's total.

Governments at all levels in the province strongly support the NEV industry as a key area for future development. Changzhou, a traditional manufacturing city, has been transformed into a NEV production center.

Major NEV manufacturers including Li Auto and BYD have landed in the city. The output value of the city's NEV and core auto components sectors increased by 71.4% annually to 131.05 billion yuan in 2021. In the first half of this year, the output value reached 88.99 billion yuan, a 51.9% rise from the same period last year.

The city, as one of the world's most significant lithium iron phosphate battery centers, ranks first in China in terms of LFP battery shipments, and its annual output value accounts for one-third of the country and two-thirds of Jiangsu Province.

In the first half, the NEV output and sales in China, the world's largest car market, reached 2.66 million and 2.6 million units, respectively. By the end of June, the country had a total of 10.01 million NEVs on its roads, data from the Ministry of Public Security showed.

SHARE