The 20-millionth new energy vehicle (NEV) was produced in China as a silver GAC Aion Hyper GT left the assembly line. To commemorate the milestone, a ceremony was hosted in Guangzhou, China, where representatives from FAW, Dongfeng, SAIC, Changan, BAIC, BYD, Chery, JAC, Great Wall Motors, NIO, XPeng, and Tesla were present.
NEV is a term used in China for BEVs (battery electric vehicles), PHEVs (Plug-in hybrid electric vehicles), and EREVs (range-extender). Bear in mind HEVs (hybrid electric vehicles) and MHEVs (Mild-hybrid electric vehicles) are not considered as NEVs.
Since production started in 1995, it took China 27 years to produce its 10 millionth NEV, which was done in February 2022. According to the China Association of Automobile Manufacturers, it only took one year and five months to go from the 10 millionth to the 20 millionth NEV since that time.
China’s vehicle sector is undergoing a shift, driven by NEVs. Local Chinese vehicle brands have a larger domestic market share than international auto manufacturers, reaching 53.1% in the first five months of this year. In addition, China’s production and sales of NEVs reached 3.015 million and 2.94 million units, respectively, in the first five months of this year, representing annual increases of 45.1% and 46.8%, respectively. NEV penetration rate surpassed 27.7% as well.
Related: China Implements a Multi-Pronged Strategy to Drive NEV Boom
There are currently more than 140 Chinese auto brands out there. NEV is the darling of the Chinese auto industry because it combines sustainability and market competition. Given that the Chinese Ministry of Industry and Information Technology announced in its next steps that it would optimize the policy for encouraging the acquisition and use of NEVs, it is not surprising that China will continue to battle for global dominance in the NEV industry.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
