Half-year Data

By comparison, the US and Europe contributed 11 percent and 26 percent of global new energy vehicle sales, respectively, in the first half of the year.

The popularity of micro cars in China, including the Wuling Hongguang Mini EV, has been rewarding for one power battery supplier.

Shanghai produced 228,000 new energy vehicles in the first half of this year, up 220 percent year-over-year and accounting for more than one-sixth of China's total production.

By the end of June, Shanghai had 513,000 new energy vehicles, of which 235,000 were pure electric vehicles.

Shanghai exported 60,000 EVs in the first half of the year, an increase of 752.9 percent year-over-year, accounting for 34.3 percent of China's total, according to Shanghai Customs.

The total output value of the lithium-ion battery industry in the first half of the year exceeded RMB 240 billion ($37.1 billion), and total exports were RMB 74.3 billion, an increase of nearly 70 percent year-over-year.

For comparison, China shipped 124,000 tons of LFP cathode materials in 2020, up 41 percent year-over-year, with market size of about RMB 4.5 billion.

It is worth noting that about 74.42 percent of the installed capacity of lithium iron phosphate batteries came from the passenger car market, at 16.76 GWh.

Nio is the second-largest passenger car customer of CATL, China's largest power battery supplier, after Tesla

A new traffic rule announced six months ago has boosted new energy vehicle (NEV) sales in Shanghai significantly.