New energy vehicles are the order of the day in China – in fact they are the order of the next five years.
The 12th Five Year Plan for China’s auto industry is set to make new energy vehicles a top priority with China reportedly targeting annual sales of one million units by 2015 according to the China Association for Automobile Manufacturers.
The country will update its new energy vehicle sector with a focus on integrating the two major technologies of electric vehicles and hybrid electric vehicles. According to the State Council’s Decision to Accelerate the Development of Strategic Emerging Industries, the total added-value of know-how intensive, resource-efficient strategic emerging industries should account for eight per cent of China’s gross domestic product with the new energy vehicle industry to play a key role.
The first draft of the five year plan has already been formulated and will be released at the end of the year.
