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NIO just hit another notable milestone. Its Onvo L60 already surpassed 100,000 cumulative deliveries. However, the bigger NIO news of the week was NIO CEO, chairman, and founder William Li saying that he thinks the Chinese auto market will exceed 90% new energy vehicle (plugin vehicle) sales by 2030.
90% New Energy Vehicles, 90% BEVs
Considering the country just hit 63% plugin vehicle share last month, that 90% forecast really isn’t shocking at all, but it’s still a big statement from a major CEO in the industry. Also, keep in mind that the Chinese auto market is by far the largest in the world. Auto sales in China accounted for 35.6% of the world’s auto sales last year — 34.35 million vehicles out of 96.47 million.
Also, here’s a big kicker: Li also said that he expects China’s NEV market to be 90% BEVs by 2030. So, he sees BEVs accounting for the vast majority of Chinese auto sales. Note that while some other Chinese auto companies that started out as pure BEV companies have loosened up and started offering plugin hybrids as well, NIO has stuck to its mission and values and sells only pure BEVs.
