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China’s electric vehicle sales increase in January

9 Feb 2018, 5.14 pm GMT

China's electric vehicle sales increase in January

London, 9 February (Argus) — China's electric passenger vehicle sales increased by 480pc to 32,000 in January from 5,423 vehicles in the same month last year, China's passenger cars association CPCA data show.

Production fell in January last year in response to a reduction in government subsidies. New subsidies will be introduced this month to encourage the adoption of electric vehicles with longer driving ranges.

Chinese car manufacturers Beiqi New Energy and BYD's electric vehicle sales in January reached 7,900 units and 7,200 units, respectively.

Beijing will issue 60,000 new license plate numbers in late February that will exempt electric vehicle drivers from the usual restrictions that apply to combustion engine vehicles.

Total sales of passenger vehicles in January were up by 7.1pc at 2.27 mn units from 2.12mn in January last year. Total passenger vehicle output increased to 2.33 mn units from 2.06 mn units over the same period.

The fast growth of electric vehicles and the Chinese government's plan to increase its infrastructure construction, including more charging outlets, is expected to raise demand for metals used in batteries, such as nickel, cobalt and lithium.

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