China's NEV industry surges from Jan to Feb

China's new energy vehicle industry saw surges in the volume of production, sales and exports in the first two months of this year, according to data from the China Association of Automobile Manufacturers (CAAM) released on Tuesday.

Volume of production and sales of NEVs reached 1.903 million and 1.835 million, respectively, both up 52 percent year-on-year, during Jan-Feb period.

The amount of NEVs sold accounted for 40.3 percent of the total sales of new vehicles. NEV exports reached 282,000 units, showing an increase of 54.5 percent year-on-year during Jan to Feb.

In the first two months, China's automobile production and sales hit 4.553 million and 4.552 million, grew by 16.2 percent and 13.1 percent year-on-year.

As a new round of expansion of the trade-in policy was in place from Jan to Feb, production and sales in the automobile industry show an overall steady growth trend.