While China's major new energy vehicle (NEV) manufacturers, including the world's top seller BYD, saw strong sales growth in 2022, tough COVID curbs that disrupted supply chains and dented consumer confidence meant that others like XPeng missed their annual targets.
The mixed picture comes as the industry prepares for slower growth as it enters its first year without generous government subsidies that have nurtured it into the world's largest NEV market, and helped its companies become globally competitive.
