China has reached an unprecedented milestone in the production of new-generation vehicles, reaching a staggering 20 million units manufactured, according to state media reports.

The milestone occurred with the departure of the emblematic car of the GAC Aion New Energy Automobile company in Guangzhou, the capital of Guangdong province, as announced by the official Xinhua news agency.

This has been seen as a sign that the Chinese auto sector has entered a new stage of development on a large scale, with a global presence and a focus on high quality, making it a crucial part of the country’s industrial system. , according to Fu Bingfeng, vice president of the China Automobile Manufacturers Association.

The Ministry of Industry and Information Technology of China also celebrated this outstanding production at its plant. In parallel with this milestone, BYD, China’s leading electric vehicle manufacturer, has announced record sales in the first half of 2023, with a total of 1.26 million units sold, almost double compared to the same period of the previous year.

In 2022, the company sold 1.86 million units, tripling sales from the previous year.

At the end of June, the Chinese authorities announced the reintroduction of tax exemptions and reductions for the purchase of new generation vehicles, extending them until 2027.

The ministries of Finance, Industry and Technology, and the Tax Administration explained that this measure aims to support the development of the new energy vehicle industry, promote consumption and facilitate green construction.

The subsidies that China gives to these types of vehicles were implemented in 2009 and eliminated in 2022. After its elimination, sales of electric vehicles in the world’s largest market experienced a 48 % decrease in January compared to the last month of 2022.

K. Tovar

Source: Infobae

(Reference image source: Unsplash+)

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