China's annual production of electric vehicles exceeds 10 million units for the first time.

Data released by the China Association of Automobile Manufacturers on Thursday morning show that China's annual production of new energy vehicles (NEVs) has exceeded 10 million vehicles in 2024, marking the first time this milestone has been achieved, according to Chinese CCTV News.

This comes after China produced approximately 9.58 million electric vehicles in 2023, indicating a 4.3% increase in production this year despite the slowdown experienced in the country's manufacturing sector in recent times.

At the same time, CCTV News reported that China is the first country in the world to reach an annual production of 10 million electric vehicles. Experts predict that local car manufacturers in China may produce more than 12 million units by the end of the current year.

This occurs while many countries, including China, Japan, and the European Union, remain concerned about the potential impact of tariffs that Trump has pledged to impose on U.S. imports of foreign goods, which could lead to significant declines in manufacturing revenues in other countries.