China is rolling out multiple measures to support the continued growth of its new energy vehicle (NEV) industry, as NEVs have become the "first choice" for an increasing number of consumers in recent years, according to the Ministry of Industry and Information Technology on Tuesday.
Over the past ten years, China's annual sales of NEVs have grown significantly, surging from tens of thousands of units to tens of millions. China-produced vehicles are now exported to more than 70 countries and regions, accounting for over 60 percent of the global market, said Vice Minister of Industry and Information Technology Zhang Yunming at a press conference in Beijing.
China's NEV sales accounted for 40.9 percent of its total new car sales, ranking first in the world for 10 consecutive years. Going forward, targeted measures will be implemented to sustain the sector's continued growth, according to Zhang.
"We will deeply implement the national key research and development plan and speed up advancements in core technologies, such as new system batteries," said Zhang.
In addition, the ministry will encourage NEV consumption through favorable policies such as trade-in programs and car purchase tax reductions, while also intensifying efforts to promote pilot projects for NEV applications in public sectors.
China to roll out measures to drive NEV growth: vice minister
