China Has Launched a Study on the Stop-Production & Selling Timetable of Traditional Energy Vehicle

According to the news from Xinhua News Agency, the vice-minister of Ministry of Industry and Information Technology (short for MIIT), Xin Guobin, said recently. since the global automotive industry is accelerating swiftly towards the direction of the intelligent and electrification, in order to occupy the commanding heights in this new round, and to catch the development tendency and opportunities, China has launched the study on the stop-production & selling timetable of traditional energy vehicle.

Xin Guobin

Since the beginning of the new century, China’s automotive industry has developed rapidly. With the production and sales volume over 2.8 million vehicles in 2016 in China, which ranked No.1 around the world for the last eight years. Auto industry plays more important role  in the national economy, while can be seem in the proportion of the auto tax, the employment number in this industry, and the auto sales number occupied the whole national retail, the above number exceeded 10%. Its rate of national tax revenue, workforce, retail sales can all reach over 10%. 

Especially in the new energy automotive field, China has become the largest production & sales market. In 2016, the production and sales of new energy vehicles in China exceeded 500,000 units, which accumulated over 1 million, accounting for 50% of the world’s total. “The whole level of the new energy vehicles has been continuously improved; the recognition of Chinese brands has been raised greatly, and in some segment markets, our brands are able to compete with the international brands.” Xin Guobin said.

Xin Guobin expressed that, nowadays, many countries adjust the development strategy, try to catch the new opportunities on new energy and intelligent, some even has made a schedule of stop-production and sales of the traditional energy vehicles. “Now, the MIIT also start launching out the related research, cooperating with the relevant departments to draw up a plant, all of these measures will promote the development of China’s automotive industry and bring a dynamic profound change.” He said.

It will be the most dramatic years in the automotive industry from now until 2025. The demand for energy conservation and emission reduction of traditional vehicles become higher and higher, while the needs for develop the technology of new energy vehicles is speeding up; the above situation will have a great impact on the whole industry.Xin Guobin and other experts advice that, Chinese car companies should understand deeply the trend, adjust the strategy, develop a clear plan to meet the challenges of the new situation, and help China turning to a powerful country in automotive industry.

News resource: Xinhua News Agency