New energy vehicle ownership exceeds 10 million in China

(ECNS) -- China's new energy vehicles have witnessed a compound annual growth rate of 86 percent in the past ten years, ushering in an all-round marketization expansion period in the industry, a government official said on Saturday.

Since 2022, the production and sales of NEVs in China have surged, with current NEV ownership exceeding 10 million, said Lu Weisheng, director of the Department of Industry at the National Development and Reform Commission (NDRC) of the International Forum on Chinese Automotive Industry Development.

In 2012, both China's NEV production and sales volumes were about 13,000.

China has established a total of four million charging piles, and the NDRC will further optimize industrial development, Lu added.