China’s new energy vehicle production and sales grew rapidly in October, with penetration rate reaching 33.5%

China’s new energy vehicle production and sales were 989,000 units and 956,000 units in October, up 29.2% and 33.5% year-on-year respectively, with a penetration rate of 33.5%.

NEV production and sales were 7.35 million units and 7.28 million units in the first ten months of 2023, up 33.9% and 30.4% year-on-year respectively, with a penetration rate of 30.4%.