(Yicai Global) Dec. 3 -- China's Ministry of Industry and Information Technology solicited public opinions on the development plan for China's new energy vehicle industry from 2021 to 2035 on its website today.
The scheme envisions that NEV sales will make up about 25 percent of total new vehicle sales by 2025.
The NEV market's competitiveness will greatly improve by 2025, with major breakthroughs in key technologies such as power batteries, drive power, and vehicle operating systems, per the blueprint.
Intelligent connected vehicle sales will be 30 percent of new car sales. Highly autonomous smart linked cars will be applied in specific areas and commercial scenarios.
NEV sales may reach 7.5 million, assuming 30 million new car sales in 2025, per the draft, which also proposes to enhance the cost-effectiveness of hydrogen fuel production, storage and transport, carry out demonstration applications of various storage and transport technologies including in high-pressure gas, low-temperature liquid and solid states, promote the construction of hydrogenation infrastructure and support capable regions to implement commercialization of fuel cell vehicles.
China's NEV sales have dropped for four straight months as subsidies have fallen away. The nation produced 983,000 NEVs and sold 947,000 in the first 10 months of this year, up 11.7 percent and 10.1 percent respectively over the previous year.
Editor: Ben Armour