Home » Perspectives on Chinese policy: the future development of NEVs in the Chinese market

Perspectives on Chinese policy: the future development of NEVs in the Chinese market

Rank first in the world for seven consecutive years.

by SEP Editor

(Photo Credit: hexun.com)

The Ministry of Industry and Information Technology (MIIT) released data showing that in 2021, despite the complex and volatile economic situation and pressure from the supply chain, China’s new energy vehicle sales completed 3.521 million units, ranking first in the world for seven consecutive years.

The achievements of China’s new energy vehicles in 2021

“Judging from the trend, new energy vehicles maintained a strong development of both production and sales throughout 2021.” Bingfeng Fu, executive vice president and secretary-general of the China Association of Automobile Manufacturers (CAAM), said that the rapid growth of sales in the new energy vehicle market has strongly supported the demand in the automotive market. It is worth paying attention to the outstanding performance of new energy vehicle exports. For example, 310,000 units of new energy vehicles were exported in 2021.

In addition, the gradual improvement of supporting facilities has laid the foundation for the rapid development of the industry. By the end of 2021, China had built a total of 75,000 charging stations, 2,617,000 charging piles and 1,298 exchange stations.

In 2021, China’s vehicle production and sales completed 26.082 million and 26.275 million units respectively, up 3 . 4% and 3 . 8%, ending three consecutive years of decline since 2018.

Supporting Policies for development

On January 12, MIIT issued a document to vigorously promote the transformation and upgrading, compile and release the “Intelligent network connected vehicle road test and demonstration application management specification”, carry out pilot projects for the collaborative development of smart city infrastructure and smart networked vehicles, accelerate the designation of standards for new energy vehicle information security, software upgrades and data recording systems.

(Photo Credit:evsc.cn)

“China’s new energy vehicles have entered a new stage of accelerated development, but China’s NEVs also face increased pressure from international competition and problems such as stabilising the supply chain of the industrial chain.”  Shougang Guo, deputy director of MIIT, said that in 2022, MIIT will accelerate the construction of charging and switching infrastructure, and continue to promote the deployment of new energy vehicles to rural areas and switching modes. MIIT also hopes that more preferential policies on parking, charging and other usage aspects will be introduced in various places, and that measures to limit the purchase of cars will be optimised to create a good environment for promoting the consumption of new energy vehicles.

The policy by MITT has reinvigorated the previously negative sentiment in the new energy industry, with a clear inflection point in sentiment that is expected to usher in a positive outcome.

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