16 September 2019

New energy car sales expected to quadruple this year, paper says

Sales of new-energy cars this year could reach between 60,000 and 80,000 units, or three to four times that of 2013, the Shanghai Securities News reported Friday, citing Ye Shengji, deputy secretary general of the China Association of Automobile Manufacturers (CAAM). Of the 23 million new cars sold last year, 17,000 were new energy cars, the report said. Industry sources were quoted as saying that 2016 and 2017 could be high-growth years for new energy cars, with China National Petroleum Corp. and China Petroleum & Chemical Corp. (Sinopec) also pledging to increase investment in recharging facilities nationwide.

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