China's new energy vehicle (NEV) sector is experiencing rapid development, with significant advancements in production, sales and innovation efforts.
On Thursday, the country's annual NEV production surpassed 10 million for the first time, making China the first country globally to achieve this milestone.
In August, domestic sales of NEVs outpaced those of fuel vehicles for the first time, and NEVs have been accounting for over 50 percent of the auto market for three consecutive months since then.
China is leading the world in the research, development and industrial application of power batteries, establishing the world's largest charging infrastructure system with the widest coverage and the most comprehensive service for vehicles, said experts.
The country's continuous enhancement of NEV industry chain has enabled enterprises to demonstrate robust international competitiveness in cost control and rapid market response.
"A series of supporting policies have fostered a favorable development environment for the industry. Enterprises have been overcoming technical challenges and improving product performance, earning recognition from consumers. China's commitment to global division of labor and cooperation, and mutual advancement has contributed to the establishment of a high-quality and efficient international industrial and supply chain," said Xin Guobin, vice minister of industry and information technology.
At the beginning of this year, China Association of Automobile Manufacturers predicted that the annual production and sales of NEVs in China would reach 11.5 million units. With a month and a half remaining in the year, automotive sector experts projected that China's total NEV output will exceed 12 million units by the year-end. "The scale and strength of China's NEV industry will lay a solid foundation and create new strategic opportunities for the country's automotive industry to lead in intelligent development," said Fu Bingfeng, executive vice president of China Association of Automobile Manufacturers.
China started tracking NEV sales and production output data in 2013, with 18,000 units produced that year. By 2016, China's NEV output exceeded 500,000 units, with Chinese brands such as BYD, Geely and BAIC ranking among the top 10 in global new energy passenger vehicle sales. By September 2020, cumulative NEV sales had exceeded 5 million.
In 2023, China produced 9.587 million NEVs and sold 9.495 million units.
China's NEV sector developing rapidly: data
