In February, China's automobile industry gradually recovered. According to the forecast from China Passenger Car Association (CPCA), China's new energy vehicle sales in February were expected to be 500,000 vehicles, increasing by 30% month on month and growing by 60% year on year.

The market participants indicated that the economy gradually recovered, and the packages of stimulated policies made the industry rebound. Also, the eased Covid-19 epidemic increased customers' confidence in the market.

In addition, China's new energy vehicle relative equipment and technic are more and more complete. As a result, China's automobile industry was expected to be optimistic this year.