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

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.

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