New energy vehicles have become an important driving force for driving the growth of automotive consumption

Ministry of Commerce: New energy vehicles have become an important driving force for driving the growth of automotive consumption

From CCTV News - 2023-04-27

At the regular press conference of the Ministry of Commerce held today (27th), the spokesperson stated that in recent years, new energy vehicles have become an important driving force for the growth of the automotive consumption market.

From the domestic market perspective, in the first quarter of 2023, the sales of new energy vehicles reached 1.586 million units, a year-on-year increase of 26.2%, accounting for 26.1% of new car sales and continuing to become a highlight in the automotive consumer market.

From the international market perspective, the global demand for new energy vehicles has maintained growth. In the first quarter, China's new energy vehicle exports amounted to 9.55 billion US dollars, accounting for 44.7% of automobile exports, driving an overall export growth of 0.6 percentage points.

From the perspective of foreign investment, since China lifted the restriction on the proportion of foreign investment in the manufacturing of new energy vehicles in 2018, the industry has accumulated a total of 15.69 billion yuan of newly used foreign investment.

Ministry of Commerce spokesperson Shu Jueting: Especially in recent years, the scale of China's new energy vehicle consumption market has been continuously expanding, and foreign investors have seized the opportunity to continuously increase their investment in China. The investment in the new energy vehicle manufacturing industry has increased by 138.7% and 179.1% year-on-year in the whole year of 2022 and the first quarter of 2023, respectively, providing important support for the growth of manufacturing industry investment.

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