South china morning post

China’s NEV Market: Top five cities with the highest truck and van sales in 2020

Chinese automakers are betting heavily on the future of new energy vehicles (NEVs) and are raising a large pile of capital from domestic and foreign investors to fund their ambitions. While NIO, Xpeng, and BYD dominate the headlines with their rivalry in the electric car segment, commercial vehicle makers are hitting their own turf separately in new-energy trucks and vans sales when the government put in place policies to cut fossil fuel dependency also pledges to become climate neutral by 2060. NEVs are described as all-electric, plug-in hybrid and fuel cell vehicles, according to China’s development plan for the NEV industry published in November. Get the latest insights and analysis from our Global Impact Newsletter on the big stories originating in China. In 2020, Chinese consumers bought 58,045 units of this cargo …

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