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Bloomberg
China’s legion of electric carmakers appear to be shaking off the worst of the nation’s lockdown-induced supply chain snarls and parts shortages, with at least four selling over 10,000 vehicles last month.
The May bounce back in deliveries is an encouraging sign for the world’s biggest electric-vehicle market. The improved month-on-month shipments came despite residents of Shanghai — China’s financial and commercial heart — being largely confined to their homes, and capital Beijing and Tianjin also facing Covid-related disruptions. Deutsche Bank AG said in a research note that the better-than-expected recovery was promising.
“China EV sales came in better than expected in May as the industry began recovering from the Covid lock-downs,†analyst Edison Yu said. “With the resumption of work and production in Shanghai, we expect material improvement in June.â€
Yu did however cut his full-year China sales forecast by 300,000 units to 5.2 million new-energy vehicles, after factoring in the recent disruptions.
The China Passenger Car
Association said at the start of the year it expected around
5.5 million NEVs would be sold in 2022.