In May, China's NEV sales reached 1,307,000 units, up 36.9 percent year-on-year, according to data from the CAAM.
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Category: EV Industry
China's major automakers and some new carmakers have pledged to shorten supplier payment terms amid concerns about supply chain security.
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The Toyota bZ5 is the latest comeback by a joint venture automaker in China after the Nissan N7.
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Shanghai's NEV ownership reached 1.51 million vehicles by the end of 2024, with pure electric vehicles accounting for 71 percent.
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BEVs sold 607,000 units in May, up 22.6 percent year-on-year, accounting for 59.5 percent of NEV sales.
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This marks the first time this year that China's NEV retail sales have returned to above 1 million units.
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Morning Midas was transporting about 3,000 cars from several Chinese automakers, including Chery and Great Wall Motor, according to Bloomberg.
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A car carrier departing from China and carrying EVs was abandoned after catching fire in the middle of the Pacific Ocean on Tuesday.
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In May, China's passenger NEV wholesale sales are expected to reach 1.24 million units, a year-on-year increase of 38 percent and a month-on-month increase of 9 percent.
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The N7's starting price is just RMB 119,900 ($16,650), marking one of the major comebacks by joint-venture automakers in China.
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