The production of New Energy Vehicles (NEVs) in China is looking at an upward moving graph as it sees its first growth in 2020. The country saw 100,000 NEVs produced in July, which is a 15.6% year-on-year growth.
Out of these, 98,000 were sold, showing a year-on-year growth of 19.3%. These numbers do not include the Tesla production in the Shanghai Gigafactory. This was reported by China’s Automotive Manufacturers Association (CAAM).
The current growth in production and sales is being seen since April, thanks to stimulus packages provided by the Chinese government. The forecast for domestic NEV sales in 2020 is 1.1 million units, which is a 10% decrease in year-on-year.
Chinese automaker BYD sold 15,100 NEVs in July, up 6.6% from June sales, and electric-vehicle company NIO increased its sales by 322% year-on-year in the same month.
Tesla reigns over the Electric Vehicle market in China
Reports from the China Association of Automobile Manufacturers inform that Tesla sold 11,041 units in July 2020. These sales numbers put the American futuristic carmaker in the top spot on the EV sales list for this month.
Teslarati states that a majority of these July sales were Made-in-China Model 3 units, which are produced in the Shanghai Gigafactory. Tesla is also about to ramp up the production of the Model Y in China, which is likely to outsell the Model 3.
CAAM noted that Tesla sales for 2020 are estimated to be 100,000 vehicles.
With the production of the Model Y factory in full swing in Phase 2 of the Shanghai Gigafactory, it would not be surprising to see Tesla’s all-electric crossover running on Chinese roads by the end of this year. This would make it easier for Elon Musk’s electric car company to reach its sales estimates.