By 2035, China is planning to have a strong international foothold on new energy vehicle technologies. Domestically, the government wants all public transportation to be fully electrified, electric vehicles to account for the majority of new vehicle sales, and fuel cells and autonomous vehicles to be commercially available and applied.
The New Energy Automobile Industry Development Plan focuses on strategies and targets to promote new energy vehicles (including electric vehicles and hydrogen fuel cell vehicles). One of the main targets is to reach a fuel economy of 12kWh/100km for electric vehicles by 2025, and for new energy vehicles to account for 20% of the new vehicle sales. In addition, the battery swapping system will also be improved.
The steps mentioned in the plan focuses on R&D on technologies for new energy vehicles, development and implementation of new energy vehicles, strengthening the value chain of batteries, implement a battery recycling strategy, etc.