MIIT: China's NEV Industry Surpasses 10-Million-Unit Scale, Annual Sales Hit 16.49 Million

At a press conference held by the State Council Information Office on August 26, Xin Guobin, Vice Minister of Industry and Information Technology, stated that China's new energy vehicle (NEV) industry has scaled up from the million-unit level to the ten-million-unit level, with annual sales rising from 1.367 million units to 16.49 million units, and its share in new vehicle sales increasing from 5.4% to 47.9%. He added that China now ranks among the world leaders in key technologies such as vehicle integration, traction batteries, and LiDAR, and accounts for over 70% of global production in NEVs, traction batteries, and critical materials.