| Abstract: | As environmental protection becomes an increasingly common concern, and new technologies such as 5G and the Internet of Things continue to improve, more and more Chinese drivers are embracing electric and intelligent vehicles.In addition to U.S. electric carmaker Tesla, domestic startups such as Nio, Li Auto and Xpeng, as well as multinationals such as Volkswagen, have all expanded their market shares. According to the China Association of Automobile Manufacturers (CAAM), new-energy vehicles (NEVs) accounted for 2.06 percent of total auto ownership in China in the first half of 2021, numbering 6.03 million units. Of the registered NEVs, 4.93 million units, or 81.68 percent, were fully electric vehicles (EVs). |
