Etiqueta: NEV

The Ministry of Industry and Information Technology, China's top industry regulator, said in an exclusive interview with China Daily that it will step up efforts to encourage Chinese new energy vehicle enterprises to accelerate overseas development, warning that the restrictive measures imposed by a "certain country and region" on Chinese electric cars will undermine interests of global consumers.

To boost vehicle trade-ins, China’s financial regulators on Wednesday jointly announced the removal of a regulatory cap on loans for people who buy either internal-combustion engine cars or new-energy vehicles (NEVs) for their own use, giving financial institutions full discretionary power to determine the loan amounts.

The domestic vehicle market was estimated to have expanded by just 6% to 25.18m units last year

Li Auto's management believes China's NEV penetration will reach 90 percent by 2028, when it will need to sell at least 3 million vehicles annually if it is to become one of the top five players, according to local media.

China's new-energy vehicle (NEV) sector, securing the world's top ranking in production and sales for an eighth consecutive year in 2022, has gone through a period of rapid development and is now entering its explosive growth.