China Fast-tracks Release Of Favorable Policies For New Energy Vehicle (NEV)
Faizan Hashmi Published August 20, 2018 | 02:35 PM
China is releasing a package of policies more swiftly to enhance the competitiveness of its new energy vehicle (NEV) sector, the Economic Information Daily reported Monday.
BEIJING, Aug. 20 (APP - UrduPoint / Pakistan Point News - 20th Aug, 2018 ) :China is releasing a package of policies more swiftly to enhance the competitiveness of its new energy vehicle (NEV) sector, the Economic Information Daily reported Monday.
Policymakers are considering a new regulation on auto industry investment, the newspaper cited sources with the National Development and Reform Commission (NDRC) as saying.
Under the new regulation, new manufacturers of electric vehicles are required to have a minimum annual production capacity of 100,000 units, and sustainable development capacity will be a must.
Tighter restriction on diesel and petrol cars will be highlighted in the "most draconian" policy, including suspending new projects and limiting capacity expansion, according to the newspaper.
NDRC official Cai Ronghua said more will be done to facilitate the development of smart NEVs, referring to plans to create a favorable environment for intelligent vehicles.
China has remained the world's largest NEV market for three consecutive years, with some 777,000 cars sold in 2017.
For the first seven months of 2018, China's NEV production rose 85 percent year on year to 504,000 units, while sales jumped 97.1 percent to 496,000 units, data from the China Association of automobile Manufacturers showed.
Recent Stories
PTI to stage nationwide protests against alleged electoral frauds
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
More Stories From World
-
Vietnam National Assembly head resigns amid graft purge
18 minutes ago -
Team from Gaza mediator Egypt heads to Israel: source
38 minutes ago -
Xi tells Blinken US, China should be 'partners, not rivals'
39 minutes ago -
Ukraine agriculture minister freed on bail in corruption case
58 minutes ago -
Vietnam National Assembly head resigns amid graft purge
58 minutes ago -
Calls for mosque demolition weigh on India's Muslim voters
1 hour ago
-
Chinese shares close higher Friday
1 hour ago -
China's EV execs bullish on Western pressure at Beijing car show
1 hour ago -
EU toughens rules on fashion retailer Shein
1 hour ago -
Xi meets U.S. secretary of state in Beijing
1 hour ago -
Ukrainian minister detained over suspected corruption: prosecutors
1 hour ago -
Golf: PGA Zurich Classic of New Orleans scores
2 hours ago