China hits production milestone of 20 million new energy vehicles

Shanghai (Gasgoo)- On July 3, the momentous production of the 20 millionth new energy vehicle (NEV) in China was marked with an event in Guangzhou, according to a report from Xinhua News Agency.

The significant vehicle is a Hyper GT all-electric car from GAC AION’s premium auto sub-brand Hyper. The model officially hit the market on the same day.

Photo credit: GAC AION

Xin Guobin, Vice Minister of China’s Ministry of Industry and Information Technology (MIIT), addressed the occasion, stating that, "New energy vehicles are not only a key direction in the global auto industry's transformation and green development but also a strategic choice for high-quality development of China's auto industry. The journey of our auto industry over the past 70 years, from nothing to something, from small to large, and from weak to strong, is encapsulated in the production of the 20 millionth NEV, marking an historically significant moment."

According to statistics from the China Association of Automobile Manufacturers, in the first five months of this year, China produced and sold approximately 3.005 million and 2.94 million NEVs, respectively, reflecting a year-on-year growth of 45.1% and 46.8%. The penetration rate of new energy vehicles (proportion of NEVs to total new vehicle sales) reached 27.7%.

Fu Bingfeng, the Executive Vice President and Secretary General of the China Association of Automobile Manufacturers, observed, "The rapid development of China's NEV industry in recent years has been truly remarkable. In September 2020, the cumulative production of NEVs in China exceeded 5 million, achieving the target proposed in the 'Energy Saving and New Energy Vehicle Industry Development Plan (2012-2020)'. In February 2022, this figure broke through 10 million. Today, we welcomed the 20 millionth vehicle off the line, taking only one year and five months to produce the second 10 million units."

Currently, China has established a comprehensive and synergistic NEV industry system and cultivated the world's largest consumer market. For eight consecutive years, China's production of NEVs has topped the global charts.

The MIIT announced that the next steps include optimizing policies to support the purchase and use of NEVs, encouraging enterprises to diversify the supply of NEVs, and accelerating the progress of scientific and technological innovation in NEVs and the development of related industries. This continuous push for innovation and sustainable practices further bolsters China's position as a leading player in the global NEV market.