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Home / Metal News / Rare Earth Demand: China’s NEV Production And Sales Jumped from January to February 2023, Wind Power Installations In China Slumped In 2022

Rare Earth Demand: China’s NEV Production And Sales Jumped from January to February 2023, Wind Power Installations In China Slumped In 2022

Apr 21, 2023 11:28

Source:SMM

According to the China Association of Automobile Manufacturers (CAAM), the output and sales of NEVs from January to February stood at 977,000 units and 933,000 units respectively, an increase of 19% and 22% year-on-year, with a market penetration rate of 26.6%.

SHANGHAI, Apr 21 (SMM) – According to the China Association of Automobile Manufacturers (CAAM), the output and sales of NEVs from January to February stood at 977,000 units and 933,000 units respectively, an increase of 19% and 22% year-on-year, with a market penetration rate of 26.6%.

According to the statistics of the National Energy Administration, the new grid-connected installed wind power capacity in 2022 stood at 37.63 million kilowatts, a decrease of 21.2% compared with 2021.

Resurgence of COVID-19 pandemic, rapid upgrade of wind turbines and industry technology iteration drove the decline. With the liberalisation of policies and the improvement of technology, the fourth quarter of 2022 will see the peak of wind power installation.

It is expected that the wind power industry will continue to develop rapidly in 2023-2025.

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