China's new energy vehicle sales to account for 50% of new car sales by 2035

China's industry body predicts 95% of new energy vehicle sales in 2035 will be battery electric vehicles while hybrid vehicles will make up the rest.
By : Reuters
| Updated on: 27 Oct 2020, 09:36 AM
File photo: Industry expects China to sell around 1.1 million new energy vehicles this year.
File photo: Industry expects China to sell around 1.1 million new energy vehicles this year.
File photo: Industry expects China to sell around 1.1 million new energy vehicles this year.
File photo: Industry expects China to sell around 1.1 million new energy vehicles this year.

Sales of new energy vehicles (NEV) in China, the world's biggest auto market, will jump to 50% of overall new car sales by 2035 from just 5% at present, the China Society of Automotive Engineers (China-SAE) said on Tuesday.

A technology roadmap by the association predicts 95% of NEV sales in 2035 will be battery electric vehicles, while hybrid vehicles will make up the rest, China-SAE president Li Jun, told the association's annual conference in Shanghai.

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The influential industry body, whose members include senior auto executives and academics, is involved in setting the country's mid- to long-term electric vehicle policies. The roadmap is not government policy, but is a key reference for policy makers, companies and investors.

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(Also read | Car sales in China shine as rest of world reels from coronavirus)

Li also said carbon dioxide emissions from China's auto industry were expected to peak around 2028, and drop to 20% of peak levels by 2035.

Chinese President Xi Jinping in September announced plans to boost China's Paris climate accord target, saying that China would achieve a peak in carbon dioxide emissions before 2030 and carbon neutrality before 2060.

NEVs include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles. Industry expects China to sell around 1.1 million NEVs this year.

First Published Date: 27 Oct 2020, 09:36 AM IST
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