China’s NEV sales to account for 50% of new car sales by 2035: industry body By Reuters

© Reuters. The Wider Image: Trade tensions with U.S. testing Chinese consumers

© Reuters. The Wider Image: Trade tensions with U.S. testing Chinese consumers

SHANGHAI (Reuters) – Sales of new energy vehicles (NEV) in China, the world’s biggest auto market, will jump to 50% of overall new car sales by 2035 from just 5% at present, the China Society of Automotive Engineers (China-SAE) said on Tuesday. A technology roadmap by the association predicts 95% of NEV sales in 2035 will be battery electric vehicles, while hybrid vehicles will make up the rest, China-SAE president Li Jun, told the association’s annual conference in Shanghai. The influential industry body, whose members include senior auto executives and academics, is involved in setting the country’s mid- to long-term electric vehicle policies. The roadmap is not government policy, but is a key reference for policy makers, companies and investors. Li also said carbon dioxide emissions from China’s auto industry were expected to peak around 2028, and drop to 20% of peak levels by 2035. Chinese President Xi Jinping in September announced plans to boost China’s Paris climate accord target, saying that China would achieve a peak in carbon dioxide emissions before 2030 and carbon neutrality before 2060.
NEVs include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles. Industry expects China to sell around 1.1 million NEVs this year.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link