Report: Beidou Auto to invest 20 billion yuan in NEV production

Sales of NEVs recorded 217,900 units in June, up 181.7% on the year and 22.8% on the month, achieving positive growth for the second consecutive month.

A weekly update on the trending stories from the New Energy sector.

Sales of new energy passenger vehicles with Compulsory Traffic Insurance were 188,000 units in March, up 99.1% month-on-month and 288.4% year-on-year.

A summary of the trending news of the New Energy sector. Will Xiaomi’s EV business venture be able to compete with Tesla and BYD?

In November, NEV sales were 177,000 units based on compulsory traffic insurance, an increase of 40.5% from the previous month.

The Development Plan for the New Energy Vehicle Industry (2021-2035) suggests that average power consumption of new pure electric passenger vehicles should be reduced to 12 kwh/100 km, sales of new NEVs should reach 20% of total new vehicle sales

China's new energy vehicle (NEV)  industry  is currently facing tough challenges as it enters a “painful period” after being affected by the decline of the NEV subsidy policy in 2019 and COVID-19. The development of the NEV industry remains as a focus of the Chinese government after the "two sessions” annual meetings chaired by the National People’s Congress (NPC). Various regions in China have introduced stimulus policies on the NEV market. 

This followed the wholesale deliveries of new energy passenger cars nearly quadrupled from a month ago to 56,000 units in March, as the business recovered from the fallout from the coronavirus crisis. 

About 73,500 new energy vehicles obtained qualification certificates in China in Jul

Ternary batteries accounted for most of the increase, with a 70% share of the NEV market