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China rolls out NEV roadmap for next decade

Source: National Business Daily | Date: Nov. 26

  • China recently presented its roadmap for the NEV market over the next decade. Under the roadmap, China's annual NEV sales will account for 20% of the total car sales in 2025, with China-built NEVs acquiring an 80% share of the market.

  • In a bid to achieve the above-mentioned goals, the government will introduce favorable policies to boost the industry. Industry experts take the view that the local aluminum industry will see immense opportunities from the booming NEV market.

  • Lightweight technology could help reduce emissions: if vehicles are 1% lighter, 0.6-1.0% of fuel will be saved. Accordingly, it's quite important for NEVs to shed weight. Since all-aluminum body structure can considerably reduce cars' weight, the aluminum industry is expected to prosper. Industry experts have forecast that it's just a matter of time before aluminum alloy materials are widely adopted in the vehicle industry, with the government's support to accelerate the process. Aluminum processing companies should grasp the opportunity to develop better aluminum parts to meet diversified needs from the NEV sector.