What’s worth mentioning is the growth of new energy vehicles is still relatively quick. According to the statistics of China Association of Automobile Manufacturers, in Nov. 72,000 new energy vehicles were produced and 65,000 vehicles were sold, respectively up 12.8% and 6.4% compared to the same time last year. Among them the production volume and sales volume of purely-electric vehicles are respectively 64,000 and 58,000, up 30.8% and 27.4% compared to the same time last year; the production volume and sales volume of plug-in hybrid electric vehicles are respectively 8,000 and 7,000, down 47.5% and 56.6% compared to the same time last year.

Furthermore, the “Investigation on Fraudulent Application for Subsidy” activated early this year led to the delay of the issuance of state subsidy for new energy vehicles for 2015, which in turn results in the capital chain tension in most new energy vehicle manufacturers. Despite this, recently the subsidy funds for new energy promotion have been issued and the recommended catalogue for the 4thbatch of new energy vehicles has been published. Viewed from the current tendency, this year the total sales volume of new energy vehicles is expected to break through 500,000 and the ownerships of new energy vehicles is going to exceed 900,000, even reaching 1 million.