China's Electric Vehicle Ambitions, Government Support and Strategic Goals

China's Electric Vehicle Ambitions, Government Support and Strategic Goals

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.

HarshitKulhan

Crafting cinematic stories through the lens of my phone, I am a blogger and content writer who expresses the essence of my blogs through words

What do you think?

Show comments / Leave a comment

You are not Signed in