Standard & Poor's Global Lin Huaibin: The growth rate of PHEV models may slow down in the next two to three years.

Lin Huaibin, deputy director of sales forecast for light vehicles in China at S&P Global Automotive, said at the 2025 China Automotive Forum that it is expected that the market penetration rate of new energy vehicles will reach 57% this year, with the share of plug-in hybrid models lower than last year's level. In the following 2 to 3 years, with the completion of destocking, the growth rate of PHEV models will further slow down.