China's NEV output, sales surge in February

China's new energy vehicles performed strongly in both production and sales in February, industry data showed on Tuesday.

NEV production surged 91.5 percent year on year to 888,000 units in February, according to data issued by the China Association of Automobile Manufacturers.

NEV sales also grew rapidly by 87.1 percent year on year to 892,000 units last month – accounting for 41.9 percent of total new vehicle sales of the month, according to the CAAM data.

Complementing the rapid NEV growth trend, China launched an insurance platform for NEVs on January 25 this year, which has already covered 114,000 units as of February 25, following guidelines to address challenges and bolster consumer trust in this rapidly expanding sector.

Boosted by the implementation of pro-consumption measures, such as a consumer goods trade-in program, China's auto industry will continue to post stable development, said Chen Shihua, deputy secretary-general of the CAAM, last month.