China Association of Automobile Manufacturers released August new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.
Auto production recovered rapidly and remained strong growth since the second quarter with coronavirus disruption disappearance. Jan-Aug auto production rose +5% YoY while Jan-Apr production shrank -10% YoY. Especially new energy vehicle Jan-Aug production reached 3.96 million units, +119% YoY. New energy vehicle occupation of auto grew rapidly from 18% in the beginning of the year to 28% in August.
New energy vehicle export also kept strong. August export was 83 thousand units, +82.3% YoY. Jan-Aug export was 340 thousand units, +97.4% YoY.
Mysteel expects new energy vehicle production to reach 7 million units in 2022, exceeding expectation of 5.5 million units in the beginning of the year. Copper consumption in NEV expects to be 660kt vs. 500kt expectation in the beginning of the year, which means another 160kt copper will be consumed. Copper consumption will be twice of the volume in 2021.
Data Source: CAAM, Mysteel
Data Source: CAAM, Mysteel
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China Association of Automobile Manufacturers released Aug new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.
Auto production recovered rapidly and remained strong growth since the second quarter with coronavirus disruption disappearance. Jan-Aug auto production rose +5% YoY while Jan-Apr production shrank -10% YoY. Especially new energy vehicle Jan-Aug production reached 3.96 million units, +119% YoY. New energy vehicle occupation of auto grew rapidly from 18% in the beginning of the year to 28% in Aug.
New energy vehicle export also kept strong. Aug export was 83 thousand units, +82.3% YoY. Jan-Aug export was 340 thousand units, +97.4% YoY.
Mysteel expects new energy vehicle production to reach 7 million units in 2022, exceeding expectation of 5.5 million units in the beginning of the year. Copper consumption in NEV expects to be 660kt vs. 500kt expectation in the beginning of the year, which means another 160kt copper will be consumed. Copper consumption will be twice of the volume in 2021.
China Association of Automobile Manufacturers released Aug new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.
Auto production recovered rapidly and remained strong growth since the second quarter with coronavirus disruption disappearance. Jan-Aug auto production rose +5% YoY while Jan-Apr production shrank -10% YoY. Especially new energy vehicle Jan-Aug production reached 3.96 million units, +119% YoY. New energy vehicle occupation of auto grew rapidly from 18% in the beginning of the year to 28% in Aug.
New energy vehicle export also kept strong. Aug export was 83 thousand units, +82.3% YoY. Jan-Aug export was 340 thousand units, +97.4% YoY.
Mysteel expects new energy vehicle production to reach 7 million units in 2022, exceeding expectation of 5.5 million units in the beginning of the year. Copper consumption in NEV expects to be 660kt vs. 500kt expectation in the beginning of the year, which means another 160kt copper will be consumed. Copper consumption will be twice of the volume in 2021.
China Association of Automobile Manufacturers released Aug new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.
Auto production recovered rapidly and remained strong growth since the second quarter with coronavirus disruption disappearance. Jan-Aug auto production rose +5% YoY while Jan-Apr production shrank -10% YoY. Especially new energy vehicle Jan-Aug production reached 3.96 million units, +119% YoY. New energy vehicle occupation of auto grew rapidly from 18% in the beginning of the year to 28% in Aug.
New energy vehicle export also kept strong. Aug export was 83 thousand units, +82.3% YoY. Jan-Aug export was 340 thousand units, +97.4% YoY.
Mysteel expects new energy vehicle production to reach 7 million units in 2022, exceeding expectation of 5.5 million units in the beginning of the year. Copper consumption in NEV expects to be 660kt vs. 500kt expectation in the beginning of the year, which means another 160kt copper will be consumed. Copper consumption will be twice of the volume in 2021.
China Association of Automobile Manufacturers released Aug new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.
Auto production recovered rapidly and remained strong growth since the second quarter with coronavirus disruption disappearance. Jan-Aug auto production rose +5% YoY while Jan-Apr production shrank -10% YoY. Especially new energy vehicle Jan-Aug production reached 3.96 million units, +119% YoY. New energy vehicle occupation of auto grew rapidly from 18% in the beginning of the year to 28% in Aug.
New energy vehicle export also kept strong. Aug export was 83 thousand units, +82.3% YoY. Jan-Aug export was 340 thousand units, +97.4% YoY.
Mysteel expects new energy vehicle production to reach 7 million units in 2022, exceeding expectation of 5.5 million units in the beginning of the year. Copper consumption in NEV expects to be 660kt vs. 500kt expectation in the beginning of the year, which means another 160kt copper will be consumed. Copper consumption will be twice of the volume in 2021.
