2020 China’s New Energy Vehicle Industry Report

Source:iresearchJanuary 28,20215:28 PM Overview Size of China’s New Energy Vehicle Market

According to national development plan, the sales of new energy vehicles in China will exceed 5 million in 2025

China’s new energy vehicle industry is still in the early stage of development and has great potential. The General Office of the State Council issued the "New Energy Vehicles Industry Development Plan" on November 2, 2020, and put forward the development target that the sales of new energy vehicles would reach about 20% of the total sales of new vehicles by 2025. It is expected that new policies will be introduced continuously to promote the rapid development of the new energy vehicle industry. There will be a new purchase cycle in the next few years. A large number of vehicles of National Ⅲ and Ⅳ emission standards will be replaced. Some cities with restricted purchases of new energy vehicles may have greater development room in the cities that have curbs on vehicle purchase. If the development of the industry can be combined with charging infrastructure construction, capital investment, national and local policies, the sales of new energy vehicles in China will probably reach 5.3 million in 2025. By then, there will be around 20 million new energy vehicles in China.

New Energy Vehicle Industry Map




Contents

Supporting national and local policies, gradually improving mandatory standards, expanding financial subsidies to new energy vehicles, continuously promote the development of new energy vehicles.
Foreign-trade dependence of China's crude oil is over 70%,much higher than the international warning line of 50%. Alternative energy has become increasingly important. The battery, motor and electric control technologies of new energy vehicles have matured. The range and battery pack energy gradually increase.

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