The China Association of Automobile Manufacturers (CAAM) said earlier this month that NEV sales in China are expected to rise to 3 million units this year from 1.4 million units last year.
see photosCAAM said that in the first nine months of this year, NEV sales accounted for 11.6% of the total market in China.
New energy vehicles (NEVs) are expected to account for more than 35% of new vehicle sales in China in 2025, He Xiaopeng, chief executive officer of electric car maker Xapeng Inc., told Reuters Events Automotive Summit.
China, the world’s largest auto market, is promoting NEVs, which include battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to combat pollution and support the country’s car technologies.
The China Association of Automobile Manufacturers (CAAM) said earlier this month that NEV sales in China are expected to rise to 3 million units this year from 1.4 million units last year.
China is promoting NEVs, which include battery electric, plug-in hybrid and hydrogen fuel cell vehicles, to combat pollution
“This year’s total NEV sales are slightly higher than our expectations,” he said, adding that he was surprised by the increasing sales of hybrid vehicles and micro electric vehicles.
“Given the current sales performance, I’m actually more confident about the industry’s NEV penetration rate growth in 2025,” he said.
CAAM said that in the first nine months of this year, NEV sales accounted for 11.6% of the total market in China.
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Asked about the chip supply crunch that has affected the global auto industry, he said chip supply will continue to be a challenge over the next 12 months, but things will “gradually get better.”
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