NEV sales to exceed 1.2 million units in 2020 as production soared 104.5% in October

Published: Nov 16, 2020 16:22

Save

In October, the production and sales of new energy vehicles in China (NEVs) stood at 167,000 and 160,000 units, exceeding expectations, an increase of 69.7% and 104.5% year-on-year. From January to October, NEVs totalled 914,000 units, down 9.2% from a year ago.

SHANGHAI, Nov 16 (SMM)—In October, the production and sales of new energy vehicles in China (NEVs) stood at 167,000 and 160,000 units, exceeding expectations, an increase of 69.7% and 104.5% year-on-year. From January to October, NEVs totalled 914,000 units, down 9.2% from a year ago.

Output of pure electric passenger vehicles increased 32.1% month-on-month, and is the main point of growth of EVs in October. Output of Hongguang Mini EV and Tesla Model 3 exceeded 20,000 while that of BYD Han, Li Auto, Euler R1 and other models trended higher month by month, bolstering market demand for new energy. Output and sales of NEVs are expected to exceed 1.2 million units, stable from 2019.

For more information on the China New Energy sector, please subscribe to China Cobalt & Lithium Weekly Report.

NEV sales

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

50 mins ago

ChuNeng Debuts 588Ah + CTP3.0 Module-Less Integration Solution

On April 1, ChuNeng New Energy showcased its full-scenario energy storage solutions at the ESIE 2026 exhibition, demonstrating for the first time a 6.25MWh energy storage system solution based on the integration of 588Ah batteries and CTP3.0 module-less technology, attracting significant industry attention. As the industry's first solution deeply integrating 588Ah large-format cells with CTP3.0 module-less technology, it demonstrates unique value in dimensions such as system integration efficiency, thermal management safety, and large-scale application. Within the lithium iron phosphate system, the 588Ah battery achieves leading performance with a gravimetric energy density of 190Wh/kg, a volumetric energy density of 419Wh/L, and an energy efficiency of 96.5%.

50 mins ago

51 mins ago

Star Energy New Energy And Hithium Energy Storage Sign Strategic Cooperation Agreement

On the first day of the ESIE 2026 Energy Storage Exhibition, Zhejiang Star Energy New Energy Technology Co., Ltd. and Xiamen Hithium Energy Storage Technology Co., Ltd. signed a "Strategic Cooperation Agreement." The two parties agreed to establish a strategic procurement partnership for cell products from 2026 to 2028, with an estimated total procurement volume of 30GWh over the next three years, laying a solid foundation for the large-scale expansion of the company's energy storage business. This cooperation represents an important choice made by both parties based on industrial trends, market opportunities, and a consensus on collaborative development. It also marks a new milestone for Star Energy New Energy in market development, business layout, and industrial synergy.

51 mins ago

1 hour ago

[SMM Analysis] Ternary Cathode Transaction Sentiment Slightly More Active This Week

Most second-quarter orders in the domestic EV market have been signed sequentially. While some manufacturers saw modest upward adjustments in payables, overall market changes remained limited.

1 hour ago