Energy Insider: China’s NEV Sales Hit Record, Local Governments Flock to Rooftop Solar

In today’s Caixin energy news wrap: China’s NEV sales hit record high; Qinghai Salt Lake unit hooks up with BYD for battery project; and domestic coal prices are set for a short-term skid.

China’s NEV sales hit record high in July

China’s market for new energy vehicles (NEV) is booming, according to the Ministry of Commerce. Both the production and sales of NEVs in July set new monthly records, with output surging 170% year-on-year to 284,000 units and sales jumping 160% to 271,000 units. In contrast, overall auto sales fell 11.9% year-on-year. In the January-July period, sales of NEVs — which include vehicles powered by battery, plug-in hybrids, and hydrogen fuel cells — tripled from a year earlier to nearly 1.48 million units, surpassing sales for the whole of 2020. NEVs have also raised their share of China’s total vehicle exports.