China's NEV output, sales surge in January-July period

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China's production and sales of new energy vehicles (NEVs) both surged in the first seven months of 2018, data showed Friday.

The country manufactured 504,000 NEVs in the period, up 85 percent year-on-year, while 496,000 were sold, up 97.1 percent, the China Association of Automobile Manufacturers said in a statement.

Sales of pure electric vehicles rose 82.4 percent in the first seven months to 373,000, representing 75 percent of the total, while sales of plug-in hybrid vehicles soared more than 160 percent in the same period, according to the association.

A driver charging his vehicle / VCG Photo

Global sales of NEVs are expected to top 18 million units and China’s sales will exceed 4.7 million units in 2025, according to Shi Jianhua, vice secretary-general of the China Automobile Industry Association.

The unremitting opening up to the outside world will further facilitate the development of China’s NEV market, and with the future improvement of product quality, the export of NEVs will present greater potentials, predicted Cui Dongshu, secretary-general of the China Passenger Car Association.

With the purpose of promoting the healthy and orderly development of NEVs, the National Development and Reform Commission of China (NDRC) released the "Regulations on Investment Management of the Automobile Industry (Draft for Comment)" last month, and just completed the work of gathering public opinion last Saturday.

The opinions mentioned that the NDRC will further regulate the investment behavior of market entities, guide the rational investment of social capital, and encourage capacity cooperation between enterprises.

There will be more stringent requirements on new energy automobile manufacturers, from auto design to production, which will further improve the quality of products as well as companies’ production capability, previously commented Cui.

Source(s): Xinhua News Agency