China's NEV Passenger Vehicle Exports Hit 424,000 Units in May, Up 112.6% YoY

According to the China Passenger Car Association, new energy vehicle (NEV) passenger car exports reached 424,000 units in May, representing a year-over-year increase of 112.6% and a month-over-month increase of 4.4%. NEVs accounted for 54.1% of total passenger vehicle exports, up 9.5 percentage points from the same period last year.

Electric vehicles comprised 59.3% of NEV exports, with entry-level models (A00+A0 segment) accounting for 53.8% of electric vehicle exports, compared to 50.7% a year earlier.