Tesla, Nio Set For China Rebound As June NEV Sales To Spike

Source: cryptonewsforex.com cryptonewsforex.com

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China’s new energy vehicle (NEV) retail sales are expected to reach a record high in June as key automakers emerge from intensive COVID-19 curbs, CnEVpost reported, citing the China Passenger Car Association (CPCA). What Happened: NEV retail sales are expected to cross 500,000 units in June as sales picked up better than industry expectations. China’s NEV sales reached 420,000 units in May and mostly bounced back to March levels, before stringent coronavirus restrictions came into effect. Analysts have mirrored the CPCA’s views. CITIC Securities last week reportedly estimated China’s NEV sales to be in the range of 543,000 units to...