Auto industry pulls out stops to tackle slumping sales
NEVs to account for 25% in 2025
New energy vehicles are expected to account for 25 percent of total car sales in China by 2025, up from the 20 percent estimated in 2017, according to a draft plan released by the Ministry of Industry and Information Technology in December.
The new plan will serve as the development guideline for the sector in China from 2021 to 2035. It expects that China will be an automotive power by 2035 and Chinese companies will be global leaders in new energy vehicle-related technologies. In addition, brands from the country will be competitive in international markets. The market should also play a major role, with carmakers free to choose their technical routes, while authorities will create a favorable business environment through legislation and quality supervision, the plan said.
It added that the authorities will make it easier for companies to enter the industry, facilitate use of new energy vehicles and improve charging infrastructure.
