China Announces Development Plan for New-Energy Vehicles

The State Council passed a development plan for new-energy vehicles (NEVs) at its executive meeting held on 9 October. At the meeting, Premier Li Keqiang called for efforts to facilitate the orderly growth of the NEV industry, promote the establishment of a unified national market for NEVs, and enable the sector to grow in a more concentrated and competitive manner. In order to keep up with the trend of industrial upgrading and meet the new requirements of green consumption, it is necessary to give full play to the decisive role of the market in the allocation of resources. Businesses will be encouraged to choose their own technology paths when developing their products. The government will also improve its role in the formulation of standards and regulations and the oversight of product quality and safety. The global NEV industry has witnessed rapid growth in recent years. China’s NEV market has great potential and development prospects. Further efforts must be made to guide and support the healthy and orderly development of the NEV industry.

Source: State Council