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In 2023, the production and sales of new energy vehicles in China are expected to exceed 10 million units.

Fu Bingfeng, Vice Chairman of the China Association of Automobile Manufacturers, predicts that the production and sales of new energy vehicles will exceed 1000 million units in November this year. In 2023, the production and sales of new energy vehicles are expected to increase by 35.8% and 37.9% respectively, with a market share reaching 31.6%. Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, anticipates that the production and sales of new energy vehicles will reach 1150 million units in 2024, with an increase of about 20%.

New energy vehicles: Vehicles that use non-traditional fuels, such as electric cars.

Market share: The sales proportion of a product in the total market.

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