SHANGHAI (Reuters) – Automated sales in China, the world’s largest market, entered January with a 30% jump from the same month a year earlier, the tenth month of gains, as China continues to lead global car industry recovery from COVID -19 pandemic.
Sales reached 2.5 million vehicles in January, data from the China Automobile Manufacturers Association (CAAM) showed.
Sales of new energy vehicles (NEVs), including battery-powered electric vehicles, plug-in hybrid petrol-electric hybrids and hydrogen fuel cell vehicles, rose 239% in January to 179,000 units.
NEV manufacturers such as indigenous Nio Inc and Xpeng Inc as well as foreign organizations, such as Tesla Inc, are expanding manufacturing capacity in China where the government has encouraged greener vehicles to reduce air pollution.
Reciting with Yilei Sun and Brenda Goh; Edited by Christian Schmollinger and Raju Gopalakrishnan