Feb 20, 2023 07:42 PM

BUSINESS

China Doesn’t Have an EV Production Glut, Ex-Minister Says

By Guo Yingzhe and An Limin

On Feb. 17, workers were manipulating the robot arm to install new energy vehicle parts at the SERES Automobile Factory in Chongqing. Photo: VCG

On Feb. 17, workers were manipulating the robot arm to install new energy vehicle parts at the SERES Automobile Factory in Chongqing. Photo: VCG

China is not facing an overall glut of electric vehicle (EV) production as growth in demand remains solid, though there may be overcapacity in some regions, China’s former minister of industry said.

“New-energy vehicle (NEV) sales growth in 2023 is likely to exceed 30%, with total sales reaching 9 million units,” said Miao Wei, the former minister of industry and information technology.

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