CHINA'S new energy vehicle (NEV) sector is still on a robust upward trajectory, with industry insiders projecting production and sales both to exceed 10 million units by November this year, with sustained growth of 10 to 20 percent annually in the future.
CHINA'S new energy vehicle sector is still on a robust upward trajectory, with industry insiders projecting production and sales both to exceed 10 million units by November this year, with sustained growth of 10 to 20 percent annually in the future.Fu Bingfeng, executive vice president of the China Association of Automobile Manufacturers, said on Saturday that China's NEV production and sales will surpass 10 million units each by November , compared with 9.
Visitors watch a vehicle of Song PLUS by Chinese NEV manufacturer BYD during the 2024 Beijing International Automotive Exhibition in Beijing on May 4, 2024. Experts said that as the industry shifts into a smart technology-driven era, the introduction of new technologies and products will supercharge upgrades across the entire NEV supply and value chains, further enhancing industry prosperity.'This trend is also fueling rapid expansion in the upstream NEV supply chains, such as battery production and installation, highlighting the sector's development potential,' Fu noted.
Sales To Surpass 10M By November
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