Further Chinese Govt measures to boost EV demand

  • 2020-04-24 12:00:00
  • Reporter

As more companies in China resume production since the worst of the coronavirus outbreak in February, the government is said to be considering further initiatives to increased domestic demand for electric vehicles (referred to as new energy vehicles) and to promote the sustainable development of the industry.

In a China Daily report, Huang Libin, a spokesperson for the Ministry of Industry and Information Technology, said reviving auto demand would help ease the severe impact felt by the country’s auto industry due to the coronavirus pandemic. Data from the China Passenger Car Association show that sales of new energy vehicles fell by 53.2% on a yearly basis in March, as compared with a plunge of 75.2% in February.

In March, China’s State Council's decided to extend subsidies for new energy vehicles to 2022. The subsidies, which have been in place since 2009, were scheduled to be stopped by the end of 2020.

Huang revealed that the Ministry of Industry and Information Technology will devise guidelines for the new energy vehicle sector from 2021 to 2035, with the aim of driving up sales and to promote the healthy development of the industry.

A new plan was also launched to build a hydrogen-energy-powered car industrial chain in four years.

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