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Shenzhen Sets Record with 77.4% New Energy Vehicle Penetration Rate in June

In June, Shenzhen's penetration rate of new energy vehicles reached a record high of 77.4%. The city has a total of 426.3 million motor vehicles, with over 108 million being new energy vehicles, accounting for more than 25%. In 2023, the production volume reached 173 million units, with 24,000 related enterprises concentrated in the city. Supported by policies such as a replacement and update subsidy of up to 8,000 yuan per vehicle and differentiated parking fees, the market for new energy vehicles is growing. The penetration rate of independent brands is 72.5%, luxury brands 29.8%, and joint venture brands only 7.4%.

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