China's NEV production reached 8.91 million units in 2023, up 34.15 percent year-on-year.

PHEV production was 1.56 million units in 2022, a year-on-year increase of 172.50 percent, contributing 23.5 percent of all NEV production.

In 2023, China's NEV production reached 8.91 million units, albeit at a slower growth rate of 34.15 percent.

BEVs produced 6.11 million units in 2023, up 20.08 percent year-on-year, contributing 68.6 percent of all NEV production.

Production of PHEVs was 2.8 million units in 2023, up 79.95 percent year-on-year, contributing 31.4 percent of all NEV production.

In the first five months of this year, China's NEV production amounted to 3.64 million units, up 29.13 percent year-on-year.

The growth rate of PHEVs continues to outpace that of BEVs, as hybrids without charging anxiety are more accepted by consumers.

Production of PHEVs in the first five months was 1.48 million units, up 86.06 percent year-on-year, while BEVs were 2.16 million units, up 6.79 percent.

China NEV retail rebounds to 804,000 in May, penetration reaches record 47%