Shanghai (ZXZC)- As of June 2024, China's megacity Shenzhen has had approximately 4.263 million motor vehicles running on roads, of which 1.08 million are new energy vehicles (NEVs), representing over a quarter of the total, according to the information from official website of the Shenzhen Municipal Government.

Yuan PLUS Honor Edition; photo credit: BYD

Public data reveals that in the first half of this year, Shenzhen deployed 109,000 NEVs, raising the penetration rate of new NEVs to 72.6%. In June alone, the NEV penetration rate soared to 77.4%, marking a historical monthly high, with about 77 out of every 100 newly registered vehicles being NEVs.

Shenzhen has been long focusing on the development of the NEV industry. In 2023, the city's NEV production volume reached 1.73 million units. Currently, Shenzhen is home to over 24,000 new energy and digital power enterprises. The second phase of the BYD Auto Industrial Park in Shenshan Special Cooperation Zone has reached full production, with a daily output of 750 vehicles. The new AITO M7 Ultra was launched in Shenzhen and has begun large-scale deliveries, with 20,000 units delivered in June. Additionally, CATL has established subsidiaries in Longgang and Pingshan districts and has set up a new energy supply chain company in Shenzhen city.