NEV Production Soars 47.7% YoY Highlighting Strong Growth in New Energy Industry - January-February 2025 Economic Performance Press Conference

[NEV Production Up 47.7% YoY! Press Conference on National Economic Performance for January-February 2025 Held by the State Council Information Office] SMM learned that on March 17, the State Council Information Office held a press conference on the national economic performance for January-February 2025. Fu Linghui, spokesperson of the National Bureau of Statistics (NBS) and Director-General of the Department of Comprehensive Statistics of the National Economy, introduced the economic performance for January-February 2025 and answered questions from reporters.

The new energy industry showed strong growth momentum, with increased utilization of green energy significantly promoting the green and low-carbon transformation of the economy. From January to February, the production of NEVs and lithium-ion power batteries for automobiles rose by 47.7% and 37.5% YoY, respectively, continuing to maintain high growth. Power generation from wind and solar energy by industrial enterprises above designated size maintained double-digit growth. In February, the prices of fuel-powered small cars and new energy small cars decreased by 5.0% and 6.0%, respectively, collectively contributing to a YoY CPI decrease of approximately 0.16 percentage points.