The automobile industry in east China’s Jiangsu province continued to maintain a growth momentum in the first two months of this year, with a rapid increase in the production and sales of new energy vehicles. New energy vehicles accounted for 49.5% of the province's automobile production, nearly half of the country's total.
With the stabilization and recovery of the economy and the enhancement of residents' willingness for consumption, the automotive industry in Jiangsu has continued to maintain a growth trend since the beginning of this year, following a five-year decline that ended last year. In January-February, the province recorded a production of 224 thousand vehicles, with a growth rate 18.6 percentage points higher than the national average.
The province recorded an output of 111 thousand new energy vehicles, a year-on-year increase of 72.9%, continuing the explosive growth momentum, with a growth rate of 55 percentage points higher than that of the country.
Jiangsu accounts for nearly 40% of the country's total automobile power battery production capacity and it has built the largest power battery production base in the country. Both the power battery capacity that have been built and the capacity under construction rank first in the country.
The rapid growth of the new energy vehicle industry has benefited from the in-depth promotion of the country’s green and low-carbon strategy. Jiangsu has keenly seized the opportunity and prioritized the new energy vehicle industry as a strategic emerging industry, forming an industrial agglomeration effect in a matter of a few years.
While the production of new energy vehicles is growing rapidly, Jiangsu has taken the lead in the country by installing public charging facilities in township and highway service areas, providing strong impetus for the promotion and application of new energy vehicles.
In the January-February period, Jiangsu registered 88.5 thousand new energy vehicles, an increase of 29.09% year-on-year. As of the end of February, the province registered 1.0798 million new energy vehicles.
