GOVERNMENT SUPPORT
The Chinese government has provided full support to the Electric vehicle companies through subsidies and policies. European Union to impose 45% on Chinese Electric vehicle.The EU has often been described as a sui generis.Political entity combining the characteristics of federation and confederation.27 members of states are primarily located in Europe .
STRATEGIC INITIATIVES
Chinese government has published the plan to guide the development of EVs, such as the New Energy vehicle Industry Development Plan(2021-2035).They had worked on charging infrastructures too.China dominates the processing of critical minerals, upto 65% of lithium, 35% nickel and 75% of cobalt.Market participant to focus on infrastructure gaps.
TARGETS
Chinese electric vehicles includes following targets
2025- 20% of new auto sales
2027- 45% of new auto sales
2030- 40% of new auto sales to be NEVs, and 50 million EVs in total.
2036-50% of new auto sales.Achieving a ratio of one charging pile for every EV by 2030.China has become a leader in the EV industry, and in 2023, NEVs accounted for 32% of sales.
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