Recovery of NEV Market to Accelerate in Q2 as Local Support and New Models Renew Buying Interest

Published: Mar 9, 2023 15:49

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According to Galaxy Securities’ research report, new energy vehicles have achieved effective competition with fuel vehicles through their own product strength and advantages in intelligent features. The withdrawal of national subsidies this year will only have temporary impact on NEV sales. Stimulus policies by local governments coupled with the launch of new NEV models should re-kindle buying interest and allow the market recovery to accelerate in the second quarter of the year.

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