Penetration rate of new energy vehicles in China's passenger car market

In April, the domestic retail penetration rate of new energy vehicles in China reached 43.7%, an increase of 11.7% year-on-year. Among them, the penetration rate of new energy vehicles of independent brands was as high as 66.8%, while the penetration rate of new energy vehicles of mainstream joint venture brands was only 7.5%. This shows that new energy vehicles are gradually becoming the mainstream of the market. If German and Japanese brands want to maintain their competitiveness in the Chinese market, they must make achievements in the field of new energy vehicles.