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CHN | Jul 11, 2024

China’s NEV output, sales register fast growth in first half of 2024 

/ Our Today

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A BYD’s electric vehicle (EV) Qin moves on a street in Beijing, China October 31, 2023. (Photo: REUTERS/Tingshu Wang/File)

China’s production and sales of new energy vehicles (NEVs) continued to maintain rapid growth in the first six months of this year, with the market share steadily increasing domestically, industry data showed on Wednesday (July 10).

During the period, the production of NEVs reached about 4.93 million units, rising 30.1 per cent year-on-year, according to data from the China Association of Automobile Manufacturers (CAAM).

The sales of NEVs stood at 4.94 million units, growing by 32 per cent from a year earlier, the data reveals. The market share of NEVs in China reached 35.2 per cent by the end of June.

Chinese-made NEVs registered fast growth in both production and sales during the period. By the end of June this year, the production and sales of NEVs made in China exceeded 30 million units, according to the CAAM.

In June alone, the production and sales of NEVs hit one million units and 1.05 million units, respectively, representing an increase of 28.1 per cent and 30.1 per cent year-on-year.

For the January-June period, some 605,000 units of NEVs were exported, representing a year-on-year increase of 13.2 per cent, the data shows.

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