The Chinese government has unveiled a new 15 year development plan for its new energy vehicle (NEV) sector with the aim of strengthening the global competitiveness of the domestic industry.
The plan unveiled by the State Council, China’s cabinet, extends until 2035 and targets five key areas to help accelerate the industry’s development.
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These include improving industry technology innovation capacity by building new industry ecosystems; accelerating industrial integration and development; improving infrastructure; and stepping up international market integration.
Among the specific targets, the new plan aims to bring down the average power consumption of new electric passenger cars to 12kWh/100 km, as well as raising the proportion of new NEVs sales to 20% of the overall market by 2025.
By 2035, battery powered vehicles are expected to become the main segment in the overall vehicle market while public transport vehicles will be exclusively battery powered.
In the first nine months of 2020, total NEV sales declined by almost 18% to 734,000 units with battery powered electric vehicle sales falling by close to 19% to 579,000 in this period.
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By GlobalData
