Plug-in and hydrogen vehicles to make up 20% of new sales in China in 2025

SHANGHAI — Sales of electric, plug-in hybrid and hydrogen-powered vehicles in China, the world’s biggest auto market, are forecast to rise to 20% of overall new car sales by 2025 from just 5% now, the State Council said on Monday.

Sales of so-called new energy vehicles (NEV), which include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles will rise as China’s NEV industry has improved their technology and competitiveness, the State Council, China’s cabinet, said in a policy paper as part of the release of the country’s 14th five-year plan through to 2025.

The State Council advocated for significant improvements in the technologies of China’s electric vehicle components and building more efficient electric vehicle charging and battery swapping networks to make electric vehicles more convenient.

The paper also said the Chinese government will improve the green car quota system to guide automakers to make more environmentally friendly vehicles after it ends NEV subsidies in two years and boost NEV sales for public uses such as bus and trucks.

Companies including Tesla, Volkswagen and Nio are expanding electric vehicle production in China, with sales expected to be around 1.1 million units this year.

The new outlook for NEVs in 2025 is lower than a 25% goal mentioned in a policy proposal published by China’s Ministry of Industry and Information Technology last year.

(Reporting by Yilei Sun and Brenda Goh; Editing by Louise Heavens and Christian Schmollinger)

Related Video:

Source link




Trump campaign ads are working around Facebook’s election rules

President Donald Trump holds a campaign rally at HoverTech International in Allentown, Pennsylvania, October 26, 2020.Saul Loeb | AFP | Getty ImagesThough Election...

Vitamin D can help reduce coronavirus risk by 54%: Boston University doctor

submitted by /u/mostaksaif Source link

Climate risks not priced in bond markets, a risk for many countries

A man uses a snow blower during a winter storm in New York, on February 18, 2021.ANGELA WEISS | AFP | Getty ImagesLONDON...

Tesla stock suffers biggest fall since September 2020

Tesla CEO Elon Musk speaks at a delivery ceremony for Tesla China-made Model 3 in Shanghai, east China, Jan. 7, 2020.Ding Ting |...

Google is using A.I. to design chip floorplans faster than humans

Google claims that it has developed artificial intelligence software that can design computer chips faster than humans can.The tech giant said in a...