China hits record of 3.5M NEVs produced in 2021 – report

The Chinese new energy vehicle (NEV) manufacturing industry reached a record of 3.54 million NEVs produced in 2021, including battery EVs and plug-in hybrids, according to a report cited by Nikkei Asia on Tuesday.

Out of the total NEVs produced, the country sold 3.52 million last year. In addition, NEV sales in the Asian giant are expected to soar to 5 to 6 million vehicles during 2022, accounting for 25% to 30% of the domestic auto market. China will be the largest producer and buyer of NEVs globally, said Nikkei.

Baha Breaking the News (BBN) / JGA