The market growth rate of new energy vehicles (NEVs) in China was 5.4 percent in 2020, showing significant growth momentum in the sector, according to an annual report provided by the Ministry of Industry and Information Technology on Thursday.
NEV sales in China boosted 10.9 percent year on year to 1.37 million units in 2020, amid government attempts to promote their use and ease pressure on the environment.
China’s NEV sales have surpassed 1 million units for three consecutive years, ranking first worldwide for six consecutive years, the report said.
There were 4.92 million NEVs in the country at the end of 2020, accounting for 1.75 percent of automobiles in the country.
The report also pointed to weaknesses in the sector, as fully electric vehicles continue to have issues such as reduced driving ranges in low-temperature environments.
Earlier data shows the country’s NEV sales hit a historic high of almost 1.48 million units in the first seven months of this year, surpassing total NEV sales in the last year.
The data accounted for 10 percent of new car sales during the period, increasing 6.1 percentage points from the share in the same period in 2020.
China aims to increase the proportion of new NEVs in its sales of new vehicles to 20 percent by 2025.
