According to Bank of America Securities, the insurance registration of locally produced electric vehicles reached 166000 in April, up 209% year-on-year, but it dropped slightly compared with March. Electric vehicle sales fell 11% month-on-month in April, mainly due to the decrease in Tesla delivery. since the beginning of this year, electric vehicle sales have benefited from a low base, with an annual growth rate of 282%. Among them, Wuling, SAIC, Great Wall Motor (2333.HK), NIO.US and Xiaopeng (XPENG.US) outperformed the market. Sales of locally made Tesla rose 188 per cent in April, but fell 66 per cent on a monthly basis. The bank raised its forecast for mainland electric car sales this year by 20.4 per cent to 2.23 million, meaning it will grow by 63 per cent year-on-year, and it is estimated that electric cars will account for 9.4 per cent of all passenger cars by 2021.