China NEV sales:
- 2022: 6.88 million units (export 0.68m)
- 2023: 9.495 million units (export 1.2m)
- 2024: forecast ~13 million units
Vice Chairman and Secretary-General Zhang Yongwei of the China Electric Vehicle Hundred People's Association stated that 2024 could be a critical year for further enhancing the global position of China's new energy vehicle industry and consolidating its role in national economic and social development. The production and sales scale of new energy vehicles may further expand, reaching around 13 million units, with an estimated growth rate of approximately 40%, and an overall penetration rate exceeding 40%.
Compelling reward/risk ratio, page-179
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