China has added more than 55,000 new new-energy vehicle-related companies this year as of November 30, already more than it added in all of 2019, according to data provider Tianyancha.
The country added nearly 20,000 new NEV-related companies in the third quarter of this year, up 18% from the previous quarter.
In the first three quarters of this year, China added more than 40,000 new HEV-related companies, up 65% year-over-year.
At present, there are more than 180,000 new energy vehicle-related companies in China that operate in the fields of "new energy vehicles, electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles" and are in operation, still in existence, moving in or out of China.
Among them, 87% are limited liability companies, and more than 30% of them have registered capital of more than RMB 10 million.
In terms of industry distribution, 52% of the new energy vehicle-related enterprises are distributed in the wholesale and retail industry, while 16% are distributed in the scientific research and technical services industry and 10% in the leasing and business services industry.
In terms of geographical distribution, Guangdong Province has the largest number of new energy vehicle-related enterprises, with nearly 24,000. This is followed by Jiangsu and Shandong, both of which have more than 17,000 new energy vehicle-related enterprises.