Manufacturing News

Electrified vehicle sales approach half a million in first 7 months after July surge

Sales of electric vehicles and plug-in hybrids in China advanced 48 percent year on year in July to roughly 84,000.

As a result, deliveries of EVs and plug-in hybrids approached 496,000 in the first seven months, according to the China Association of Automobile Manufacturers.

While smaller in volumes, sales of plug-in hybrids continue to outpace those of EVs.

In July, about 24,000 plug-in hybrids were sold in China, more than doubling the number a year earlier. EV sales jumped 34 percent to around 60,000.

For the first seven months, plug-in hybrid deliveries soared 161 percent year on year to about 123,000 while EV sales surged 82 percent to roughly 373,000.

The association has predicted that annual sales of EVs and plug-in hybrids would exceed 1 million in 2018, a 29 percent jump from 2017.

The Chinese government has for years offered subsidies for domestically produced EVs, plug-in hybrids and fuel cell vehicles.

To ease fiscal burdens, the government plans to phase out subsidies for EVs and plug-in hybrids by 2020.

To sustain electrified vehicle output, the government plans to enact a credit trade program in 2019 for automakers operating in China.

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