The Chinese government has put in place a policy to help drive production and innovation in the country’s electric vehicle battery industry, according to local reports.
The country is struggling to tackle some of the highest pollution levels in the world in its main cities and sees increasing sales of new energy vehicles such as electric vehicles and hybrid-electric vehicles as part of the solution.
Go deeper with GlobalData
The Vehicle Traction Battery Industrial Development Action Plan aims to encourage local battery manufacturers to invest in capacity expansion and to strengthen through consolidation.
The plan has also set out an industry-wide target for battery capacity of 100 GWh to be achieved by 2020, while emphasising the need to raise quality standards and reduce production costs. This would help lift consumer demand for such vehicles.
The government is also calling for the industry to intensify research in fundamental technologies to help it achieve significant breakthroughs that could turn the country into the leading electric vehicle industry globally by 2025.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
