China’s Qingdao city eyes annual NEV output of 400,000 units by 2025

Shanghai (Gasgoo)- Recently, the municipal government of China's Qingdao city issued the Action Plan for the High-Quality Development of the New Energy Vehicle Industry in Qingdao ("the Action Plan").

Under the Action Plan, Qingdao city aims to achieve an annual production of 400,000 new energy vehicles (NEVs) by 2025, with approximately 180,000 vehicles exported, and revenue from automakers' overseas business exceeding 36 billion yuan. It also targets core supporting industries such as automotive electronics and power batteries to reach a scale of around 40 billion yuan, and special parts like tires and car bodies to reach around 50 billion yuan. The penetration rate of new energy vehicles is expected to reach about 45%. The city plans to have over 40,000 public charging points, more than 110,000 charging points for residential areas, and 15,000 charging points for rural areas.

In recent years, Qingdao has integrated various resources to build a new city for the new energy vehicle industry, establishing a relatively complete industrial system. By the end of 2023, the first unit of the Fulwin T9 model rolled off the production line at Chery's Qingdao super factory. According to the plan, the Chery super factory will achieve full production capacity by 2025, with an output value exceeding 38 billion yuan.

Public data shows that Qingdao has eight complete vehicle manufacturers, 32 modified vehicle manufacturers, and over 900 auto parts suppliers. Since 2018, the city has produced more than 400,000 new energy vehicles in total.