New energy vehicles registered in China jumped 138.2 percent year on year (YoY) in the first quarter (Q1) 2022.
This is based on data released by the China Automobile Manufacturers Association (CAAM), as quoted from Xinhua, Saturday (9/4/2022).
Around 1.11 million new energy vehicles (NEVs) were registered in the first quarter of 2022, an increase of 644,000 units from last year.
At the end of March, China’s registered new energy vehicles totaled 8.915 million units, accounting for 2.9 percent of registered new cars.
And, more than 400 million motor vehicles had been registered in the country by the end of March, of which 307 million were four-wheeled vehicles.
China has encouraged the use of new energy vehicles in recent years to reduce carbon dioxide emissions.
About 20 percent of new car sales are predicted to be new energy vehicles by 2025, according to the country’s 2021-2025 modern energy system plan released earlier this year.