New Energy Vehicles Have A Penetration Rate of Nearly 30% in Chinese Automobile Market

According to the China Association of Automobile Manufacturers (CAAM), China' new energy vehicle (NEV) production and sales reached 640,000 units and 636,000 units respectively in April, both up 110% year-on-year, representing a market share of 29.5%.

In the first four months of this year, China’s NEV production and sales were 2.29 million units and 2.22 million units respectively, both up 42.8% year-on-year, representing a market share of 27%.