Business
China's NEV market penetration rate at 5.4 pct in 2020: industry report
  ·  2021-08-27  ·   Source: Xinhua News Agency

The market penetration rate of new energy vehicles (NEVs) in China was 5.4 percent in 2020, indicating strong growth momentum in the sector, according to an annual report released by the Ministry of Industry and Information Technology on August 26.

NEV sales in China increased 10.9 percent year on year to 1.37 million units in 2020, amid government efforts to encourage their use and ease pressure on the environment.

China's NEV sales have exceeded 1 million units for three consecutive years, ranking first globally for six consecutive years, the report said.

There were 4.92 million NEVs in China at the end of 2020, accounting for 1.75 percent of the country's automobiles, it said.

The report also pointed to weaknesses in the sector, as pure electric vehicles continue to have problems such as reduced driving ranges in low-temperature environments.

Earlier data shows China's NEV sales hit a historic high of nearly 1.48 million units in the first seven months of this year, surpassing total NEV sales in 2020.

The data accounted for 10 percent of new car sales during the period, up 6.1 percentage points from the share in the same period last year.

China aims to raise the proportion of new NEVs in its sales of new vehicles to 20 percent by 2025, according to a development plan for China's NEV industry released last year.

 
 
China
Opinion
World
Business
Lifestyle
Video
Multimedia
ChinAfrica
China Focus
Documents
Special Reports
 
About Us
Contact Us
Advertise with Us
Subscribe
Partners: China.org.cn   |   China Today   |   China Pictorial   |   People's Daily Online   |   Women of China   |   Xinhua News Agency   |   China Daily
CGTN   |   China Tibet Online   |   China Radio International   |   Global Times   |   Qiushi Journal
Copyright Beijing Review All rights reserved 京ICP备08005356号 京公网安备110102005860