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Weng Hongchao of Great Wall Motor's Hival Predicts China's New Energy Vehicle Market Share to Surpass 70% in the Next Five Years
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Author：小编
The 17th Xuanyuan Automobile Blue Book Forum was held in Guangzhou from June 13 to 15, 2025. During the event, Weng Hongchao, Vice President of Hival, a subsidiary of Great Wall Motor, gave a speech outlining the transformation in the automotive market. He noted that currently, gasoline-powered vehicles and electric vehicles share roughly equal market shares. Nonetheless, Weng projected a significant shift in the coming three to five years, with battery electric vehicles (BEVs) anticipated to capture 40% of the market, plug-in hybrid electric vehicles (PHEVs) accounting for 35%, and the combined share of gasoline-powered vehicles and hybrid electric vehicles (HEVs) dwindling to just 25%.
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