BYD, Tesla, Porsche: Will EVs continue to dominate China’s auto market in 2023 as tax rebates resume? ...Middle East

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Soon after China announced a 520 billion yuan ($72.3 billion) package of tax breaks for new energy vehicles (NEVs) in June, sales reached a record high for the country’s leading EV players. Chinese EV brand BYD sold over 253,046 vehicles, almost double the number of vehicles it sold in June last year. Li Auto delivered over 32,500 vehicles, achieving 150 percent growth from a year ago. And while Tesla does not release country-specific figures, the American car brand reportedly sold 93,680 made-in-China EVs in June, up 18 percent year over year (YoY). Chinese EV brand BYD sold 253,046 new energy vehicles in June 2023. Photo: BYD This is a welcome change from the first quarter of 2023, when t

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Last updated : 27 July 2023 clock 02:36 PM

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BYD, Tesla, Porsche: Will EVs continue to dominate China’s auto market in 2023 as tax rebates resume? ...Middle East

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