On November 14th, 2024, the event to achieve 10 million new energy vehicles in China was held in Wuhan, Hubei. This event is organized by the China Association of Automobile Manufacturers under the guidance of the Ministry of Industry and Information Technology. 2013 was the first year that China's production and sales of new energy vehicles were included in the statistical system, with an annual output of only 18000 vehicles. By 2018, the annual production reached the level of one million vehicles. By 2022, the annual production capacity will exceed 5 million vehicles. Now, for the first time, the milestone of producing 10 million vehicles per year has been exceeded, and in just one and a half months until the end of the year, the production has increased by 4.3% compared to last year's full year output of 9.587 million vehicles. Behind this achievement is China's strong support for the new energy vehicle industry, the continuous investment of enterprises in technological innovation, and the widespread recognition of new energy vehicles by consumers. Wu Qi, a senior researcher at Pangu Think Tank, told reporters that in terms of policies, China has issued a series of measures to stimulate the development of new energy vehicles. These measures cover multiple aspects such as car purchase subsidies, purchase tax reductions, and charging facility construction, providing solid guarantees for the vigorous development of the new energy vehicle industry. In the field of technological innovation, Chinese new energy vehicle companies have made breakthrough progress, achieving significant results in battery technology, drive systems, intelligent networking, and other aspects. This not only improves the performance and endurance of new energy vehicles, but also meets the increasingly diverse needs of consumers. With the deepening of environmental protection concepts and the increasing maturity of new energy vehicle technology, consumers' acceptance of new energy vehicles continues to rise, and market demand continues to grow, thus driving the rapid growth of new energy vehicle production. The rapid rise of China's new energy vehicle industry has not only accelerated the electrification process of the domestic automotive industry, but also led the transformation and upgrading of the global automotive industry through technology output and market expansion. China has achieved significant results in emerging fields such as power batteries, energy management, high-precision maps, and artificial intelligence. These achievements not only contribute significantly to the improvement and prosperity of the global new energy vehicle industry chain, but also demonstrate China's leading position in the field of new energy vehicles. Fu Bingfeng, Executive Vice President and Secretary General of the China Association of Automobile Manufacturers, said at the 2024 China New Energy Vehicle Achievement Event: "The new breakthrough means that China has taken a solid step from a major automobile country to a strong automobile country, marking a new level of scale for China's new energy vehicle industry and ushering in a new stage of high-quality development
Edit：Yao jue Responsible editor：Xie Tunan
Source：Securities Daily
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