According to data released by the China Association of Automobile Manufacturers, China’s new energy vehicle (NEV) market reached a major milestone in October, with NEV sales hitting 1.715 million units and accounting for 51.6% of total new car sales — surpassing gasoline vehicles for the first time. NEV production and sales in the month rose 21.1% and 20% year-on-year, respectively. From January to October, cumulative NEV sales reached 12.94 million units, up 32.7% year-on-year. The data indicates that China’s NEV industry is rapidly replacing the traditional fuel vehicle market, driven by policy support, technological advancements, and growing consumer demand. [IThome, in Chinese]
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