China's passenger car retail sales fell in July from June, but the NEV market was bolstered by fast-growing sales of hybrid models, the CPCA said.
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Category: Industry News
Honda will reduce its gasoline vehicle production capacity in China by 290,000 units and expects two new EV plants to start production in September and November, respectively.
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The Deepal S07 SUV, available in EREV and BEV variants, replaces the S7 to better align with the company's global strategy.
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The Deepal S07 SUV, available in EREV and BEV variants, replaces the S7 to better align with the company's global strategy.
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The Deepal S07 SUV, available in EREV and BEV variants, replaces the S7 to better align with the company's global strategy.
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The Deepal S07 SUV, available in EREV and BEV variants, replaces the S7 to better align with the company's global strategy.
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BYD and Leapmotor will benefit the most, followed by Xpeng, Geely Auto, Changan, Great Wall Motor and GAC due to their relatively large exposure to low-priced vehicles, said Deutsche Bank.
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Consumers can get a RMB 20,000 subsidy for scrapping an old car and buying an NEV, and a RMB 15,000 subsidy for buying a fuel car of 2.0 L or less, both doubled from previous levels.
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China's retail penetration of NEVs stood at 49.35 percent in the July 1-21 period, and 42.45 percent year-to-date.
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The models will be sold in China and also to overseas markets such as Japan, according to local media.
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