BUSINESS China to further boost NEV industry: minister

BUSINESS

China to further boost NEV industry: minister

Xinhua

10:44, May 26, 2020

Photo taken on May 16, 2020 shows charging points at a newly-opened electric vehicle charging station in the underground parking lot of the Wukesong sports center in Beijing, capital of China. (Photo: Xinhua)

China will step up efforts to support the development of the new energy vehicle (NEV) industry affected by the COVID-19 epidemic, a minister said Monday.

The government has decided to extend subsidies and tax exemptions for NEV purchases by another two years to restore NEV production and sales, Minister of Industry and Information Technology Miao Wei said on the sidelines of the annual national legislative session.

"NEV production capacity in April had basically reached the level of the same period last year," Miao said, adding the ministry is confident in the future development of the industry.

Restrictions on NEV contract manufacturing will be lifted in an orderly manner, while wider use of NEVs in public services will be encouraged, Miao said.

The ministry will also step up the construction of charging facilities and enhance their interconnectivity, Miao said.

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