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BEIJING – China, the world’s biggest vehicle market, is expected to sell 1.7 million new energy vehicles (NEV) in the first eight months this year, up from 600,000 units in the same period last year, vice industry minister said on Saturday.
Xin Guobin, vice minister at China’s Ministry of Industry and Information Technology, told an industry conference in Tianjin hosted by China Automotive Technology and Research Center (CATARC) in Tianjin. NEV include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles.
Xin said overall auto sales are expected to hit over 16 million vehicles between January and August, up around 10% from 2020.
He said authorities will continue to curb blind construction of NEV projects and will improve supply of key metals including cobalt, lithium and nickel.
Nio cut its delivery forecast for the third quarter to around 22,500 to 23,500 vehicles from a previous 23,000-25,000 vehicles. It delivered 5,880 electric sports-utility vehicles last month, up 48% from a year earlier.
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