SMM

On December 4, Miao Wei, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, deputy director of the Economic Committee, and former minister of the Ministry of Industry and Information Technology, said that the initial goal of new energy vehicles accounting for more than 50% of total car sales by 2035 will probably be achieved at 2025 at the latest or 2026.
And data show that against the background of the rapid growth of new energy vehicles, the sales of Chinese brand passenger cars reached 5.986 million units in the first half of this year, an increase of 22.4% over the same period last year, and the market share reached 53.1%. This is the first time that China's market share in the domestic passenger car market has exceeded the sales volume of passenger cars of foreign brands, changing the long-term pattern of foreign car brands occupying the dominant position in the Chinese market.