China’s new energy vehicle production and sales hit a record high

In 2020, China’s new energy vehicle production and sales hit a record high.

According to data released by the China Association of Automobile Manufacturers, the production and sales of new energy vehicles in China last year were 1.366 million and 1.367 million, respectively, an increase of 7.5% and 10.9% year-on-year.

Demand upstream and downstream, driven by the new energy vehicle industry, has grown. According to the RoadMap for Energy Saving and New Energy Vehicles issued by the China Society of Automotive Engineering, the amount of aluminum used in single-vehicle vehicles is expected to reach 250 kg by 2025.

According to Caitong Securities forecast, by 2025, automotive aluminum alloy components market space will exceed 330 billion yuan.