China's NEV production reached 8.91 million units in 2023, up 34.15 percent year-on-year.
A former top government official expects China's electric vehicle (EV) production to surpass the 10 million-unit mark this year, as penetration continues to rise.
China's EV production is expected to top 10 million units this year, Wan Gang, president of the China Association for Science and Technology, said today at the 15th World Economic Forum Annual Meeting of the New Champions, also known as the Summer Davos Forum.
This reflects China's rapid development in new energy-vehicles (NEVs) and its strong commitment to technological innovation and green development, said Wan, who is also a former minister of science and technology.
In China, EVs usually refer to NEVs, including zero-emission battery electric vehicles (BEVs), and low-emission plug-in hybrid electric vehicles (PHEVs).
With the rapid development of the industry, China's NEV production has grown rapidly over the past few years.
In 2022, China's NEV production was 6.64 million units, up 102.22 percent from 2021, according to data compiled by CnEVPost from China Passenger Car Association (CPCA).
BEV production was 5.08 million units in 2022, up 87.36 percent year-on-year, contributing 76.5 percent of all NEV production.
PHEV production was 1.56 million units in 2022, a year-on-year increase of 172.50 percent, contributing 23.5 percent of all NEV production.
In 2023, China's NEV production reached 8.91 million units, albeit at a slower growth rate of 34.15 percent.
BEVs produced 6.11 million units in 2023, up 20.08 percent year-on-year, contributing 68.6 percent of all NEV production.
Production of PHEVs was 2.8 million units in 2023, up 79.95 percent year-on-year, contributing 31.4 percent of all NEV production.
In the first five months of this year, China's NEV production amounted to 3.64 million units, up 29.13 percent year-on-year.
The growth rate of PHEVs continues to outpace that of BEVs, as hybrids without charging anxiety are more accepted by consumers.
Production of PHEVs in the first five months was 1.48 million units, up 86.06 percent year-on-year, while BEVs were 2.16 million units, up 6.79 percent.
China NEV retail rebounds to 804,000 in May, penetration reaches record 47%
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