China’s new energy vehicle industry has reached a historic moment with an annual production of 10 million units. The year 2013 marked the first year that production and sales of new energy vehicles in China were included in the statistics, with an annual production of only 18,000 units. According to CAAM data, by 2018, the annual production had reached one million units. By 2022, production exceeded five million units annually. In 2023, China’s new energy vehicle production and sales reached 9.587 million and 9.495 million units, respectively. From January to October 2024, production and sales of new energy vehicles were 9.779 million and 9.75 million units, respectively. With one and a half months remaining in the year, production has already grown by 4.3% compared to the entire output of last year.