China’s New Energy Vehicle Ownership Exceeded 10 Million Units, and the Installed Capacity of Renewable Energy Topped 1.1 Billion Kilowatts

SHANGHAI, Sep 23 (SMM) - In the first eight months of 2022, the production and sales of new energy vehicles in China reached 3.97 million units and 3.86 million units, respectively, and the NEV ownership stood at 10.99 million units, accounting for about half of the world.

At present, the installed capacity of renewable energy in China has exceeded 1.1 billion kilowatts, and the installed capacity of hydropower, wind power, solar power and biomass power generation ranks first in the world.

At the press conference held by the National Development and Reform Commission on September 19, spokesperson Meng Wei said that the NDRC will actively implement the development plan for the new energy vehicle industry and continue to promote high-quality development of the industry. The first is to further study and improve the new energy vehicle policy system in conjunction with relevant departments, and create a policy environment conducive to the development of new energy vehicles. China will also encourage enterprises to fully rely on the domestic industrial foundation, strengthen technological innovation, accelerate breakthroughs in key system components and continue to enhance the core competitiveness of the entire industry chain. China will also continue to deepen international cooperation by encouraging Chinese and foreign companies to deepen their cooperation.