New Energy Cars

The Shanghai government held an executive meeting today to decide that it will accelerate the development of the local new energy vehicle industry.

Local governments will be encouraged to optimize auto purchase restriction measures, automakers will be encouraged to enter the rural market, and customers will be encouraged to do trade-ins.

China recently announced a target of 20 percent penetration rate of new energy vehicles by 2025, and in the opinion of William Li Bin, founder, chairman and CEO of NIO, this target is actually a somewhat conservative one.

At present, there are more than 180,000 new energy vehicle-related companies in China.

Among them, the subsidy for the operation of new energy buses in 2021 is RMB 15.689 billion, accounting for 41.74% of the total amount.

Currently, China's traditional auto insurance still lacks products to cover and manage the risk of batteries in new energy vehicles.

China's "New Energy Vehicle Industry Development Plan (2021-2035)" was released today, which mentioned that by 2025, new energy vehicle sales will reach about 20% of total new vehicle sales.

China's New Energy Vehicle Industry Development Plan (2021-2035) is likely to be released next week, Wu Wei, director of the Machinery and Equipment Division of the National Development and Reform Commission's Industrial Development Department, said today.

Since September this year, Chinese car companies have accelerated the construction of battery swap stations, while battery swap speeds are also competing to shorten.