China’s new energy vehicle sales hoped to be 25 per cent of all car sales in 2025, draft ministry plan shows
- China sold 28.1 million cars in 2018, including 1.3 million new energy vehicles (NEVs)
- Sales of NEVs had been a bright spot in an otherwise lackluster car market, but a steep cut in subsidies this year has dented sales in recent months
China hopes new energy vehicle sales can reach around a quarter of all car sales in 2025, up from a target of “over 20 per cent” laid out in a 2017 planning document, the industry ministry said on Tuesday in a draft plan for development of the sector.
China’s market for new energy vehicles (NEVs) – which include plug-in hybrids, battery-only electric vehicles and those powered by hydrogen fuel cells – has been a bright spot in an otherwise lackluster car market, with sales jumping 62 per cent last year, versus a 2.8 per cent drop in all car sales.
China sold a total of 28.1 million cars in 2018, including 1.3 million NEVs, according to the China Association of Automobile Manufacturers, meaning NEV sales accounted for 4.6 per cent of the overall market.
The Ministry of Industry and Information Technology’s draft proposal on NEVs noted that China will keep developing electric vehicle battery technologies, and improve infrastructure for hydrogen fuel cell vehicles and connected vehicles.
The proposal, covering NEV development from 2021 to 2035, did not include sales forecasts or targets for 2030 or 2035.
China is also discussing introducing stricter green car quotas in coming years that would require carmakers to produce a certain amount of NEVs.
