A pink electric SUV rolled off a production line in Wuhan, central China’s Hubei Province, on Thursday, marking a significant milestone: China’s annual production of new energy vehicles (NEVs) has surpassed 10 million units for the first time.
This historic achievement not only signals a transformative shift in China’s automotive industry but also boosts the global move toward green transportation.
“Developing the new energy industry and advancing green, low-carbon transitions are shared goals for countries worldwide,” said Xin Guobin, vice minister of the Ministry of Industry and Information Technology. He emphasized that NEVs play a crucial role in combating climate change and protecting the environment.
Back in 2015, NEVs accounted for just over 1% of China’s auto market. Fast forward to July this year, they made history by surpassing fuel-powered vehicles in market share, hitting 51.1% with retail sales reaching 878,000 units.
Globally, the demand for electric cars is surging. According to a report by the International Energy Agency, electric cars made up about 18% of all cars sold worldwide in 2023, up from 14% in 2022 and only 2% in 2018. “These trends indicate that growth remains robust as electric car markets mature,” the report stated.
While China’s NEV industry primarily serves the domestic market, international car manufacturers like Tesla, BMW, and Toyota are expanding their NEV production within China. Tesla recently began construction on a mega factory in Shanghai for its energy-storage battery Megapacks, and Toyota has established major R&D centers in Jiangsu Province and Shanghai.
The surge in NEV production reflects China’s commitment to reducing carbon emissions and promoting sustainable development. As the world’s largest automotive market embraces green technology, the global push for environmentally friendly transportation gains significant momentum.
Reference(s):
cgtn.com
