China Auto Daily丨 China’s Passenger Car Sales Expected to Reach 22.8 Million in 2024

China’s Passenger Car Sales volume is Expected to Reach 22.8 Million Units.

Xu Changming, a senior economist at the National Information Center indicated that China’s passenger car market is poised for significant growth in 2024, with annual sales expected to reach 22.8 million units. The trade-in policies that are likely to stimulate over 1.4 million car sales this year. Breaking down these numbers, scrapping and replacing old vehicles accounts for 1 million units, while local government incentives for vehicle replacements add another 400,000 units. In the fourth quarter alone, passenger car sales are projected to total 7.44 million units, representing a 10% year-on-year increase. Overall, this would mark a 1.8% rise year-on-year.

Xpeng P7+ Breaks Through 10,000 Orders Within 12 Minutes of Launch

Xpeng Motors made headlines on November 7 with the launch of its new AI-powered electric coupe, the Xpeng P7+. Priced between RMB 186,800 (approximately USD 26,000) and RMB 218,800 (approximately USD 30,600), the model saw an overwhelming response, with over 10,000 orders placed within the first 12 minutes of its release. Xpeng’s chairman, He Xiaopeng, noted the exceptional demand which strained their server capacity to 20 times normal levels, despite having been expanded fivefold in anticipation. Addressing concerns regarding delivery delays for the MONA M03 model, He announced an expected production boost of 30% to 40% at their factories in November and December to meet the unprecedented demand.

TALENT New Energy and Changan Automobile Jointly Release Solid-state Batteries, GAC to Launch EVs with Solid-state Batteries in 2026

On November 7, TALENT New Energy and Changan Automobile collaborated to unveil their membrane-free solid-state battery technology. This innovative solution aims to replace traditional separator functions with a laminated composite solid electrolyte layer, offering an ion conductivity greater than 1.5 mS/cm and enabling roll-to-roll production methods. According to their development plan, the membrane-free solid-state battery will undergo prototype verification by 2025, with small-batch production continuing through 2026 and full-scale manufacturing and application expected by 2027. Additionally, TALENT introduced a membrane-free semi-solid 25Ah lithium-ion battery, which boasts capabilities such as 3C fast charging and 4C discharging.

In parallel, GAC Group provided an update on their solid-state battery technological advancements. Their development announcement in April 2024 marked a critical milestone, successfully establishing a complete manufacturing process for solid-state batteries. GAC is now working towards integrating these advanced batteries into vehicles by 2026, continuing to progress as planned.