Sales of Xpeng, Li Auto, BYD Han, and Great Wall Motor's Ora EV increased 39%, 26%, 34%, and 43%, respectively, compared with October, and Nio's performance in November was relatively stable.

China's new energy vehicle sales continued to grow at a rapid pace in November, and analysts say the industry's growth has been like a wildfire.

China's new energy passenger vehicle sales reached 180,000 units in November, up 128 percent year-on-year and 25 percent from the previous month, according to data released today by the China Passenger Car Association (CPCA).

China's passenger vehicle sales reached 960,000 units in January-November and are expected to reach 1.15 million units for the year as a whole, while commercial vehicle sales reached 80,000 units in January-October.

Changjiang Securities commented that if the year-end performance of China's new energy vehicle market is the same as usual, the annual sales are expected to hit 1.3 million units, which is better than expected.

Tesla and Wuling Hongguang's MINI EV again led China's new energy vehicle sales, reaching 22,000 and 33,000 units respectively, up 78% and 39% from October.

According to Changjiang Securities, Tesla benefited from Shanghai's restrictive policy on cars with license plates from other cities, while the capacity of Tesla's Shanghai factory was increased to 250,000 units at the end of the third quarter, and CATL's ample supply also provided impetus.

Sales of Xpeng, Li Auto, BYD Han, and Great Wall Motor's Ora EV increased 39%, 26%, 34%, and 43%, respectively, compared with October, and Nio's performance in November was relatively stable, Changjiang Securities said.

Changjiang Securities notes that global sales of new energy vehicles all picked up speed in November.

The total number of registrations in seven European countries exceeded 130,000 units, and Europe as a whole is expected to reach 150,000 - 160,000 units, a year-on-year growth rate of nearly 200%.

From January to October, European sales have reached 870,000 units, and Changjiang Securities believes that Europe's annual sales are likely to exceed 1.2 million units. Europe continues to soar in November, the most important factor is the approaching 2020 carbon emissions assessment node.

The U.S. market sold 33,000 units in November, with a total of 280,000 units from January to November, down 2% year-on-year, and is expected to reach around 320,000 units for the whole year.

Tesla's U.S. sales in November were 21,700 units, up 32% year-on-year and up 10% from October. model Y sales rose to 12,500 units, another monthly high.

Changjiang Securities believes that as the new energy vehicle market explodes, the lithium battery industry chain will definitively embrace the boom in 2021.