China triples year-on-year New Energy Vehicle sales

New energy vehicle (NEV) ownership exceeds 6 million in China.

The number of newly registered new energy vehicles in the first half of the year was a record high of 1.103 million, an increase of 774,000 units or 234.92 percent compared with the same period last year. Compared with the first half of 2019 the figure increased by 473,000 units, or 74.94 percent.

China’s New Energy Vehicle Industrial Development Plan for 2021 to 2035 follows the Energy-Saving and New Energy Vehicle Industry Plan for 2012 to 2020 and aims to build a green, robust, and internationally competitive auto industry. It sets a target of an approximately 20% share for new energy vehicles (NEVs) in new vehicle sales by 2025 and other development targets for the NEV industry. This policy update is an overview of Plan 2021–2035 and highlights how it differs from the previous plan. (Link – https://theicct.org/publications/china-new-vehicle-industrial-dev-plan-jun2021)

Plans announced in a 2020 future technology roadmap released by the Society of Automotive Engineers of China (SAE-China) and the Ministry of Industry and Information Technology state that as of 2035, 50% of new cars sold in the country will be either electric, plug-in hybrid, or fuel cell vehicles, and 50% of new cars will be conventional hybrids. (Link – http://www.sae-china.org/news/society/202010/3957.html)

China, the world’s biggest vehicle market, is predicted to sell 1.7 million new energy vehicles (NEVs) between January and August, almost triple the 600,000 units sold in the same period last year, according to Xin Guobin, vice minister at China’s Ministry of Industry and Information Technology. NEVs include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles.

(Link: China triples year-on-year NEV sales between Jan-Aug — China Economic Review)
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