Chinese electric vehicles are progressing ahead in 2021 in China, and they are expected to make inroads overseas, according to the report by The Wall Street Journal on Monday.
- Sales of new-energy passenger vehicles in China have almost tripled from a year earlier in the first 11 months of 2021.
- In November this year, new energy vehicles accounted for around 20% of passenger-car sales, compared with 6.2% in 2020.
- Even though China is ending subsidies for buying EVs, it has developed a credit trading program encouraging carmakers to manufacture vehicles with reduced emissions.
- Infrastructure has improved, and now China has more than one million charging stations, double the number of stations two years ago.
- Alongside Tesla, Chinese brands dominate the EV sales in the country. Some of the leading brands include Hongguang Mini EV, Liuzhou Wuling Motors, and state-owned SAIC Motor.
Meanwhile, other Chinese author-makers, including BYD, Li Auto, and XPeng, are producing more conventional-looking EVs, which are bestsellers. XPeng down -3.97%.