TECH - China's Top Auto Makers Huddle In Beijing To Plot Future Amidst NEV Surge Global Ambitions | Benzinga
Top-tier firms in China’s automobile sector recently got together in Beijing to strategize on the future of the industry, with a focus on the New Energy Vehicle (NEV) market and global growth.
What Happened: A report by CnEVPost reveals that this meeting, organized by undisclosed government departments, revolved around topics such as stimulating the growth of the NEV industry, increasing NEV consumption, and fostering expansion into international markets.
Despite economic headwinds, China saw an uptick in auto sales in 2023, with passenger car sales hitting 21.67 million units, a 5.6% year-on-year increase, as per the China Passenger Car Association (CPCA). NEV retail sales comprised 35.7% of all passenger vehicle sales, marking an 8.1 percentage point increase from 2022.
However, early signs of a slowdown in the Chinese auto market have become evident in 2024, with several automakers, including Li Auto ...