BUSINESS New energy vehicle sales in China will top 2 million units in 2020

BUSINESS

New energy vehicle sales in China will top 2 million units in 2020

By Dong Feng | People's Daily app

22:11, July 24, 2018

China will step up its targets for new energy vehicles (NEVs) and produce and sell 2 million units in 2020, an official told a press conference on Tuesday. 

VCG111158197532.jpg

NEV expo in Beijing on July 13 (Photos: VCG)

The Ministry of Industry and Information Technology (MIIT) is committed to push forward the convergence of the Internet, big data, artificial intelligence and manufacturing, Huang Libin, spokesperson for the MIIT, told the media briefing in Beijing. 

In 2017, the production and sales of NEVs reached 794,000 and 777,000, respectively, according to data provided by the MIIT. 

By June, the number of NEVs in the country reached 1.99 million, including 1.62 million pure electric vehicles, accounting for 81.4 percent of the total number of NEVs. 

Meanwhile, the infrastructure of the new energy industry is also expanding steadily. As of June, the total number of public charging stations in the China Electric Vehicle Charging Infrastructure Promotion Alliance reached 271,751. 

The number of public charging stations in China is expected to be more than 300,000 by the end of this year, according to Xu Yanhua, vice secretary-general of the China Association of Automobile Manufacturers (CAAM). 

In the second half of 2018, various car companies are also accelerating their own positioning in the new energy sector. By the end of 2020, the number of NEVs in urban public transport, taxis and urban delivery services will reach 600,000, according to the Ministry of Transportation. 

Industry insiders believe that China’s NEV industry is in a diversified development stage. Domestic brands are gradually expanding the proportion of new energy products with supportive policies. Joint ventures are also actively making breakthroughs in pure electric vehicles to seize market opportunities. The year is a milestone in the NEV industry, when market competition will be more intense, the insiders said. 

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue