China NEV sales to grow over 40% each year in next 5 years -industry body

China's new energy vehicle (NEV) sales are expected to grow more than 40% each year in the next five years, a senior official at the China Association of Automobile Manufacturers (CAAM) said on Friday.

Fu Bingfeng, executive vice chairman of CAAM, made the remarks at a conference held by the industry body in Shanghai.

Fu's presentation showed that CAAM forecasts sales of NEVs, including battery-electric, plug-in hybrid and hydrogen fuel cell vehicles, to hit 1.9 million units this year and 2.7 million vehicles in 2022. (Reporting by Yilei Sun and Tony Munroe; Editing by Muralikumar Anantharaman)