China's booming new energy vehicle (NEV) industry owes its success to relentless innovation, policy support, and market-driven growth, Zhang Xinghai, a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), said on Friday, noting that the NEV industry will keep innovating in embracing a brighter development future.
Zhang, also chairman of Seres Group, made the statement at a group interview on the sidelines of the ongoing third session of the 14th National Committee of the CPPCC, China's top political advisory body, in Beijing.
He expressed confidence in the vast development potential of the private sector of the economy, and called for continued advancements in smart technologies and global expansion to strengthen China's status as an automotive powerhouse.
"The development prospects of the private sector of the economy are very broad, with great potential for achievement. In 2024, China's production and sales of NEVs exceeded 13 million units, accounting for 70 percent of the global total and marking the 10th consecutive year of ranking first worldwide. Such achievements have not come easily and are inseparable from the national policy support for the NEV industry, the participation of market-oriented capital, the support and enthusiasm of the vast numbers of users for domestic brands and NEVs, and the tireless pursuit of enterprises across the entire automotive industry chain," Zhang said.
"Our technological innovations are mainly reflected in intelligent range-extended electric systems, intelligent assisted driving, and intelligent green manufacturing. China's automotive industry will continue to innovate this year, including technological innovation and industrial innovation, to ensure steady and sustained progress, to advance with stability, and to move toward internationalization, in striving to contribute to the dream of building China into a global automotive powerhouse," said the political advisor.
The third session of the 14th CPPCC National Committee is scheduled from March 4 to 10.
China's NEV industry embraces brighter future through continuous efforts in innovation: political advisor
