Chinese authorities announced on Thursday the launch of an annual new-energy vehicle (NEV) promotional campaign, in a bid to further boost the nation's consumption.
The promotional campaign will introduce 69 popular NEV models manufactured by FAW Group, SAIC Motor, BAIC Group, GAC Group, BYD, Changan Auto, Geely, Chery and others. The campaign will be conducted both online and offline, including livestreaming promotion via e-commerce platforms and offline exhibitions.
The campaign will be hosted by the China Association of Automobile Manufacturers (CAAM) and supported by five of China's top departments including the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Agriculture and Rural Affairs.
China has been expanding the promotion of NEVs in the countryside since the beginning of 2023. The government's No.1 central document released in February called for further promotion of NEV sales in countryside. In addition, a State Council executive meeting held on May 5 also stressed the need to promote new energy vehicles in rural areas.
According to the CAAM, the sales volume from the 2022 NEV promotion campaign in the countryside passed 2.66 million units, increasing by 87 percent year-on-year. The sales included 64 types of NEV from 28 enterprises.
China produced 2.33 million vehicles in May, up 21.1 percent year-on-year. The monthly sales reached 2.38 million, up 27.9 percent year-on-year. In the NEV sector, the output hit 713,000 in May, up 53 percent year-on-year, and sales hit 717,000, up 60.2 percent, according to the CAAM.
China's National Bureau of Statistics unveiled several economic indicators for May on Thursday, showing that retail sales expanded by 12.7 percent year-on-year, indicating that the overall economic recovery is still on track.