Electric Vehicle Sales Increase 160 Percent In China

Electric Vehicle Sales Increase 160 Percent In China

Electric Vehicle Sales Increase 160 Percent In China

The sales of rechargeable, battery, hybrid and fuel cell electric vehicles, called "New Energy Vehicles" in China, reached 2021 million 160 thousand in 3 with an annual increase of 520 percent.

According to the news of the Shinhua Agency, based on the data of the China Automobile Manufacturers Association (CAAM), China has ranked first in the world in sales of electric vehicles for 7 consecutive years.

Electric vehicle sales increased by 160 percent year-on-year, while its share in total sales rose to 13.4%.

Electric vehicle sales are targeted to reach 20 percent of total vehicle sales.

China's increase in investments supporting electric vehicle infrastructure was also effective in the increase in sales. By the end of 2021, 75 thousand charging stations, 2 million 620 chargers and 1298 battery replacement stations have been installed in China.

While domestic and foreign automotive companies cut their electric vehicle production due to the shortage in global chip supply in 2021, production and sales are expected to increase in 2022 with the relaxation of the chip shortage.

According to the 2020-year sectoral development plan prepared in 5, it is aimed that electric vehicle sales in China will reach 2025 percent of total motor vehicle sales by 20.

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