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Ministry of Transportation recently issued a proposal on accelerating the implementation of views to promote the application of new energy vehicles (draft) (hereinafter referred to as the draft). According to the proposal, by 2020, new energy vehicles in the transportation industry applications will take shape with the percentage of green powered city buses, taxis and other types of urban vehicles reaching no less than 30%.
The draft also makes it clear that among the newly added urban bus fleet, taxis and urban logistic vehicles, the percentage of new energy powered vehicle should account for no less than 30%. By 2020, the total number of green powered city buses, taxis and other types of urban vehicles should reach 200,000 units., including 50,000 units new energy taxis and 50,000 units new energy urban logistic vehicles. Before the release of the draft, the State Council had drafted plans for the development of energy-efficient and new energy vehicles. According to the plans, China is aiming to sell 500,000 units of electric and plug-in hybrid vehicles by 2015. By 2020, the production volume of new energy vehicles is to be increased to two million units and the accumulated sales volume is to surpass five million units.
According to the data released by the Ministry of Industry and Information (MIIT), China rolled out 5,191 units of new energy vehicles in Aug. 2014, eleven times higher than that in the same period last year. Considering the huge market potential in the promising industry, a number of auto-makers have been making constant efforts to strengthen their market presence. In early this month, Guangzhou Automobile Group Co., Ltd. (GAC Group) and BYD jointly set up Guangzhou GAC-BYD New Energy Bus Co., Ltd., which is expected to start production in Sept. 2015. In the meantime, from Sept. to the end of this year, a number of auto-makers are expected to roll out their green vehicle models.