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Domestic companies to contribute 70% of NEV sales in five years

Source: National Business Daily | Date: Nov. 5

  • The Ministry of Industry and Information Technology recently unveiled the 2015 edition of the "Made in China 2025" technological roadmap for major industries. Energy-saving and new energy vehicles are among the ten areas of development stated in the roadmap, and Chinese brands will become the major force that drives the development of China's new energy car sector.

  • According to this NEV roadmap, domestic brands will sell more than one million new energy vehicles by 2020, making up more than 70% of the overall NEV sales. By 2025, domestic brands will make up 80% of the new energy car market.

  • An analysis says that it is difficult to achieve these goals. However, according to an industry insider, the private NEV market has shown considerable potential thanks to favorable policies.

  • An executive from BYD Auto said that public transport presents an opportunity for companies to make breakthroughs in NEV sales.

  • Owing to the optimism about the outlook of the NEV market as well as incentive policies, many domestic car brands have rolled out their NEV plans, with some even raising their sales targets. According to incomplete statistics, the NEV output and sales targets set by domestic brands will be well beyond one million units five years later.

  • Industry insiders believe that with more companies coming into the NEV market, the competition between domestic NEV brands will intensify.