Energy Insider: China’s New-Energy Vehicle Industry Booms

In today’s Caixin energy news wrap: China’s new-energy vehicle industry posts record sales and exports; price of key battery material continues soaring; state oil giant CNOOC prepares domestic share sale to offset U.S. sanctions.

China’s electric-car sales more than double to record 2.9 million

Electric-vehicle sales in China jumped 160% to a record 2.9 million units last year, industry figures released Wednesday show, underpinning the first rise in overall auto sales in four years. The surge reflects Beijing’s push to pivot to electrics as it works to make China a power in the auto industry. New-auto sales rose 3.8% to 26.3 million vehicles in 2021, according to the China Association of Automobile Manufacturers.