At present, sales of new electric vehicles (NEVs) constitute 11 percent of overall vehicle sales in China, with NEVs currently accounting for one in 11 vehicles in China, according to the New Energy Vehicle Industry Development Forum of the World Manufacturing Convention held on November 20 in Hefei in China’s Anhui Province.
Moreover, it is expected that the car ownership in China will indicate an average year-on-year growth of four percent during the 2021-2025 period.
Shi Jianhua, deputy secretary general of the China Association of Automobile Manufacturers (CAAM), stated at the forum that China’s car ownership amounted to 297 million units as of the end of September this year and will exceed 300 million units by the end of the year.