GLOBALink | China's low-carbon pursuit turbocharges new energy vehicle industry

Source: Xinhua| 2021-10-14 21:48:40|Editor: huaxia

China, the world's biggest car market, has seen its new energy vehicle (NEV) industry enter the fast lane, powered by the country's low-carbon strategy and surging demand.

In the country, NEV ownership reached 5.8 million units by late May, accounting for about half of the global total, data from the China Association of Automobile Manufacturers (CAAM) showed.

In the January-September period, NEV sales amounted to about 2.16 million units, up 190 percent year on year, the CAAM data showed.

In September alone, NEV production and sales reached approximately 353,000 and 357,000 units, respectively, both logging a year-on-year growth of 150 percent, the CAAM data showed.

The output and sales of NEVs in September both set new monthly records, the association said.

Fuel consumption and emissions from traditional fuel-powered cars are tough challenges ahead for low-carbon growth.

The NEV sector is expected to help China attain carbon dioxide emissions peak before 2030 and carbon neutrality before 2060.

In November last year, China unveiled a development plan for its NEV industry between 2021 and 2035 that aims to accelerate the country's transition to an automotive powerhouse.

The proportion of new NEVs in the sale of new vehicles is expected to rise to 20 percent by 2025, and automobiles used in public transportation will be completely electrified by 2035, according to the plan.

Produced by Xinhua Global Service

KEY WORDS: new energy vehicle