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China encourages more capable companies to develop NEVs

Source: | Date: Sept. 14

  • China's new-energy vehicle (NEV) industry is in its infancy, and NEV manufacturers need to strengthen their business operations to cope with intensifying competition, an official with the National Development and Reform Commission (NDRC) said on Sept. 13.

  • The Chinese government has been investing heavily in the NEV industry in recent years and it will continue to offer more incentives for the industry in the coming years, Wu Wei, director of industrial coordination department at the NDRC, told participants at the 2015 International Forum (TEDA) on Chinese Automotive Industry Development.

  • He stressed that while the NEV industry needs to grow at a considerable scale and sales volume to support its continual growth, it is essential to underpin the NEV industry with progressive technology and quality improvements. China has seen the rise of a group of companies capable of developing and manufacturing NEVs, he said, citing their formidable capability in innovation and industrialization.

  • Nevertheless, he noted that China is still lagging far behind global leaders in NEV development, and thus, the government will continue to offer its strong support to fuel the industry. According to a recently released incentive policy, the government is encouraging more qualified companies to develop NEVs, he added.