Production and sales of NEVs in China surpass 1 mln units

World
Europe

China's new energy vehicle (NEV) industry has seen rapid growth in the past few years, with growing sales and an improved industry ecosystem, according to an industry association.

Production and sales of NEVs have surpassed one million units in China so far, with an annual growth rate of over 200 percent, said Dong Yang, vice director of China Association of Automobile Manufacturers (CAAM).

The number of public charging facilities within China has surpassed 180,000. /Xinhua Photo

Covering more than 50 percent of the global NEV production, sales, and ownership in 2016, China is now a global leader in NEV development. Domestic battery makers, motor producers, and other enterprises in the supply chain have become internationally significant suppliers, with more than 70 percent of the global shipments of NEV batteries coming from China, Dong said.

The number of public charging facilities within China has surpassed 180,000, with coverage increasing in public space such as residential areas and highways.

Chinese government has carried out a series of favorable policies to promote the development of domestic NEV industry. /Xinhua Photo

Companies operating NEV charging have also emerged with innovative business models, said Dong, adding that favorable government policies have made NEVs cheaper and the licensing procedures simpler.

Some 507,000 NEVs were sold in China last year, the most in the world for a second year and up 53 percent from 2015, CAAM data showed.

According to an official plan on auto industry development, China will see NEV output and sales hit two million annually by 2020, about four times the current level.

Source(s): Xinhua News Agency