China will quadruple its new energy vehicle annual output to two million by 2020, a cabinet minister has said. Citing a government plan, Industry and Information Technology Minister Miao Wei said at a Beijing forum over the weekend that by 2025, at least one in every five cars sold in China will be a new energy model.
In 2016, China produced 517,000 new energy vehicles. The country has been the world’s top seller of such environment-friendly cars since 2015. The cumulative sale has exceeded 1 million, the ministry said.
China will quadruple its new energy vehicle annual output to 2 million by 2020, Miao said. New energy vehicles include battery electric cars, plug-in hybrids and fuel-cell cars. In 2016, top Chinese electric carmakers BYD, Geely, and BAIC sold their models in more than 30 countries and regions around the world.
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Miao said the government will continue to improve policies, boost research and development, invest in charging infrastructure construction, and promote international cooperation to help the sector grow, state-run Xinhua news agency reported today.
In terms of charging infrastructure, China built over 100,000 public charging poles in 2016, ten times the figure in 2015. A comprehensive charging grid has taken shape in big cities like Beijing, Shanghai, and Shenzhen.
China witnessed a boom of electric vehicle investment in the past few years largely thanks to government’s incentives.
Instead of maintaining a universal incentive system, Miao said, subsidies will vary and favour best performing carmakers before this financial assistance programme ends in 2020. By then, a point-based system will be set up to guide the production of new energy vehicles, he said.