China's NEV sales performance didn't continue to deteriorate last week, despite the beginning of the year usually is a low point for sales.
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The meeting covered topics including promoting the development of the NEV industry, boosting NEV consumption, and encouraging the expansion in overseas markets, according to local media.
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China's NEV sales performed even worse at retail last week, leading to a significant drop in sales in the first half of the month compared to the same period in December.
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In the first week of January, China's NEV retail sales were down 12 percent from the same period in December, while NEV wholesale sales were down 35 percent.
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Morgan Stanley cut its price targets on Nio and Xpeng, while raising its price target on Li Auto and maintaining its Overweight rating on them.
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China's passenger NEV retail sales stood at 7.375 million units so far this year, up 34 percent year-on-year.
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China's retail penetration of NEVs was 38.7 percent in the December 1-17 period, and 35.3 percent year-to-date.
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So far this year, China's passenger NEV retail sales amounted to 6.996 million units, up 34 percent year-on-year.
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China's retail penetration of NEVs was 40.5 percent from November 1 to November 26, and 34.9 percent year-to-date.
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Retail penetration of NEVs in China was 41.3 percent in the November 1-19 period, and 34.8 percent year-to-date.
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