These days, about half of all new automobiles sold in China are hybrid or electric vehicles .
Yangwang, a new luxurious company from BYD, is charging more than 1 million yuan (US$160,000) for its flagship model, the U8.
Beijing — Data from the China Association of Passenger Cars for July shows that, for the first time, renewable energy vehicles have surpassed conventional fuel-powered cars for passengers in sales on a monthly basis in China.
Hybrid and battery-only cars are examples of new energy automobiles. A late-Thursday report stated that the category constituted 51% of new passenger automobiles sold in China last month.
Based on CNBC's calculations using statistics from the Passenger Car Association, it represents an increase from a penetration rate of precisely 36% exactly a year ago, and a dip below one-third in January. There have previously been concerns raised about the association's data's dependability.
According to the most recent report, the percentage of cars sold in July that were battery-only was 28%, meaning that they outsold hybrid vehicles.
Nonetheless, monthly sales and delivery data from automakers like BYD, Li Auto, and others showed that Chinese consumers were favoring hybrid cars more and more.
