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Against the factors such as backdrop of fierce price wars, lower electric vehicle costs compared to gasoline and expansion into overseas markets, China’s new energy vehicle sales have surged once again in Q1 of this year, with several Automobile enterprises delivering impressive performances.

BYD, for instance, recorded new energy vehicle sales of 626,300 units in Q1, marking a 13.44% year-on-year increase. Geely Auto’s sales reached 144,100 units, representing a staggering growth of approximately 143% year-on-year. New entrants to the market such as AITO and Li Auto also saw their sales exceed 80,000 units during the same period.

the-top-10-new-energy-vehicle-companies-in-china-for-the-first-quarter-of-2024-are-revealed-electrification-solutions

The rapid rebound and continuous record-breaking in new energy vehicles production and sales are expected to drive the power battery sector out of its slump and back onto a path of benign and healthy development. According to market research data, there have been clear signs of recovery in battery and cathode material production in March this year, with lithium battery overall production expected to increase by around 10% month-on-month in April.

Source: WeChat Official Account—CEBA电池中国

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