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China’s New Energy Vehicle Industry Booms Amid Smart China Expo

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China’s new energy vehicle (NEV) industry has entered the fast lane of development, with both domestic and foreign carmakers vying for bigger shares of this rapidly expanding market. The ongoing Smart China Expo in Chongqing showcases the latest achievements and trends in the NEV sector, as well as other fields of smart technology.

According to the China Association of Automobile Manufacturers, from January to November, 2022, the country’s NEV sales exceeded 6.06 million units, doubling compared to the previous year – and with the market share of such vehicles hitting 25 percent. The NEV industry is expected to maintain its strong momentum in 2023, as the government has set a target of increasing the proportion of NEVs to 40 percent of total car sales by 2025.

At the Smart China Expo, which runs from Sept. 6 to Sept. 9, visitors can see and experience various models of NEVs from leading brands such as Tesla, NIO, BYD, and Geely. The expo also features exhibits on smart charging, battery swapping, autonomous driving, and vehicle-to-everything communication.

The expo reflects China’s ambition to become a global leader in the NEV industry, as well as its commitment to green and low-carbon development. China has been promoting the adoption of NEVs through policy incentives, infrastructure construction, and technological innovation. The country has also been strengthening its cooperation with other countries and regions in the NEV field, such as the European Union and ASEAN.

 

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