Shanghai (ZXZC)-According to the data released by China Association of Automobile Manufacturers (CAAM), the NEVs saw its production and sales surge in October to 92,000 units and 91,000 units respectively, up 85.9% and 106.7% respectively. Among them, the production and sales of pure electric vehicles both reached 77,000 units, with increase of 76.3% and 106.7% respectively. The production and sales of plug-in hybrid vehicle soared 163.6% and 194% respectively to 14,000 units.

During the last ten months, the production and sales of NEVs reached 517,000 units and 490,000 units respectively with growth of 45.7% and 45.4%. Among them, the production and sales of pure electric vehicles reached 427,000 units and 402,000 units respectively, representing year-on-year increase of 54.7% and 55.9%. The plug-in hybrid electric vehicles were produced 90,000 units and sold 88,000 units, increasing 14% and 11.2% year on year respectively. Due to the potential phasing out of NEV subsidies, electric vehicle market is estimated to have an explosive growth in November and December. Taking the current growth of NEVs into consideration, the annual sales of NEVs is expected to exceed 700,000 units.

In October, the production of new energy passenger vehicles reached 68,000 units. Among them, the pure electric passenger vehicles are 55,000 units, the plug-in hybrid passenger vehicles are 13,000 units. The production of new energy commercial vehicles reached 24,000 units, including 22,000-unit pure electric vehicles and 2,000-unit plug-in hybrid commercial vehicles.

In October, 68,000 units of new energy passenger vehicle were sold. Among them, the pure electric passenger vehicles and the plug-in hybrid passenger vehicles delivered 55,000 units and 13,000 units. The sales of new energy commercial vehicles reached 23,000 units, including 22,000-unit pure electric commercial vehicles and 1,000-unit plug-in hybrid commercial vehicles.