Production and sales of vehicles powered by new energy sources (NEV) in China rose sharply in the first two months of this year despite rising raw material prices and the corona virus pandemic, according to an industry report from the Chinese Academy of Information and Communication Technologies.
According to the report, about 820,000 NEVs were produced from January to February, which is 1.6 times more than in the same period last year.
At the same time, sales of NEV reached about 765,000, which is 1.5 times more than in the same period last year, the report said, the Chinese Media Group (CMG) reported.
It is also stated that the rate of increase of NEV’s market share was 17.9 percent in the same period.
New energy-powered vehicles made in China have also become more popular with consumers abroad, according to the report, as exports of these vehicles rose 381.7 percent year-on-year to about 105,000, CMG reported.