Zhejiang province's production of new energy vehicles reached a record 712,000 units in the first 10 months of 2024, surpassing the total for all of 2023, according to data from the Economy and Information Technology Department of Zhejiang. This marks a 46.8 percent year-on-year increase.

By the end of October, the province was home to 2,959 automotive manufacturing enterprises, with NEVs emerging as a key driver of growth. The NEV and components industry cluster is now one of Zhejiang's most prominent specialized industrial clusters.

Major manufacturers led the surge. Geely Auto, headquartered in Zhejiang, produced 441,000 NEVs in the Jan-Oct period, up 88.2 percent year-on-year. Leapmotor followed with the production of 208,000 units, a staggering 101.5 percent increase.

Geely's NEV sales climbed to 1.14 million units during the period, a 50 percent increase that already exceeded its 2023 total of 980,000 units. Geely is on track to surpass 1.4 million units for the year, maintaining its position as the second-largest NEV seller nationwide.

Leapmotor also posted impressive growth, selling 211,000 units, a 97.2 percent year-on-year rise, with October alone contributing 38,000 units. Leapmotor's consistent monthly sales above 30,000 units indicate it is likely to surpass 250,000 units for the year.