1040 GMT - China's electric-vehicle sector is set to continue growing in 2025, CCB International analyst Qu Ke says. He projects total industry sales volume to rise about 25% to 30% next year, driven by hybrid plug-in cars due to a wide range of models. He adds that new-energy vehicles purchased in 2025 will still qualify for tax exemption, and the government is likely to extend its trade-in program for old cars, which will support sales. Qu favors Geely due to the growing market share of its new Galaxy series. Zeekr is another top pick because of its new models and growing overseas exposure, he says. Qu also likes Leapmotor for its overseas expansion and views the company as a beneficiary of China's consumption downgrade.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
December 23, 2024 05:40 ET (10:40 GMT)
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