The Number of NEVs in China Exceeds 15 Million

On the 5th of the month, Sun Fengchun, a member of the Chinese Academy of Engineering and professor at Beijing Institute of Technology, stated at the global launch event for Yutong Group’s commercial vehicle technology brand that as of June 4th, China’s new energy vehicles has exceeded 15 million units, with a current global penetration rate of about 13.9%.

Sun Fengchun said that under the national “dual carbon” strategic goal in China, new energy vehicles have gradually become a key force in industrial development.

At this release event, Sun Fengchun also pointed out that in the electrification revolution, China’s automobile industry is leading for the first time. In the intelligentization revolution era, China has entered into a high-quality development 2.0 era characterized by deep integration between electrification and intelligence.

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On January 11, 2023, the Chinese Ministry of Public Security released statistics showing that at that time, the total number of new energy vehicles in China reached 13.1 million, accounting for 4.10% of the total number of cars. As of the end of June 2022, the total number of new energy vehicles in China has exceeded 10 million and reached 10.01 million. This means that the number of new energy vehicles in our country has increased by five million in nearly a year, with an average monthly increase exceeding 400 thousand.

It is worth mentioning that, thanks to policy support, technological research and development, and accelerated market promotion, China’s new energy vehicle market has maintained a high growth trend for a long time. It has become the biggest highlight of the domestic automobile market.

In 2023, China’s new energy passenger vehicle sales are expected to reach 8.5 million units, with narrow sense passenger car sales estimated at 23.5 million units. The annual penetration rate of new energy vehicles is expected to reach 36%.