The largest market for new energy vehicles: China

China has become the largest new energy vehicles market in the world.

According to the forecast of Equal Ocean, a well-known research institution in China, sales of new energy vehicles in China are expected to grow to 11.3 million units by 2025, and their penetration rate is expected to reach 35% by 2025.

New energy vehicles include vehicles that use rechargeable batteries to power electric motors, hydrogen fuel cells, biofuels and synthetic fuels, compressed natural gas and liquefied natural gas.

New energy vehicles

Backed by Chinese government support and driven by its focus on oil resource independence, environmental protection and «Made in China 2025» industrial upgrading, the electric vehicle sector is the most promising segment of China’s automotive industry.

One of the most far-reaching industrial plans is Made in China 2025.

The Chinese State Council published this industrial plan in May 2015. It is a 10-year plan targeting 10 strategic sectors, including advanced information technologies, automated machine tools and robotics, aviation and spaceflight equipment, maritime engineering equipment and high-tech ships, advanced rail transit equipment, new energy vehicles, power equipment, agricultural machinery, new materials, biopharmaceuticals and advanced medical device products.

Industry Sectors

According to the U.S. Chamber of Commerce, Made in China 2025 «aims to harness the power of the state to alter competitive dynamics in global markets in industries critical to economic competitiveness.»

The plan supports 10 sectors: new energy vehicles, next-generation information technology (IT), biotechnology, new materials, aerospace, ocean engineering and high-tech ships, railroads, robotics, power equipment and agricultural machinery.


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