Report: China likely to speed up construction of NEV charging stations in next 2 years

SHANGHAI, Aug 23 (SMM) – China is likely to accelerate the construction of charging stations for new-energy vehicles (NEVs) in the next two years, as production and sale of NEVs for logistics transportation are expected to reach compound annual growth rates (CAGR) of above 50% within the next five years. This is according to market participants at the Shanghai New Energy Vehicle International Conference & Expo 2018.

A CAGR rate above 50% is likely to bolster the NEV market to some 200 billion yuan within the next five years, said market insiders.

Some 662,000 charging stations have been built across China as of the end of July 2018. This includes 275,000 public stations and 387,000 private ones, showed data presented at the conference.

Held across August 23-25, the conference focused on the NEV industry, intelligent technology, NEVs for logistics transportation, battery and energy storage, as well as lightweight technology.