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China aims to achieve vehicle sales of 27 million units in 2023, rising by about 3% from the previous year, and of that, 9 million units will be new energy vehicles (NEVs), representing a 30% rise from a year ago, according to a work plan released by the Ministry of Industry and Information Technology on Friday night.
China aims to increase the output of the auto manufacturing industry by about 5% this year and the industry is expected to operate in a reasonable range next year, it said.
As international uncertainties are increasing and the pressure of shrinking domestic demand, supply shock and weakening expectation remains, it’s an arduous task for stabilize the growth in the auto industry, it noted
China will actively increase the proportion of new energy vehicles in the total consumption, encourage regions with car purchase restrictions to increase car purchase quota to promote car consumption, encourage construction of electric vehicle charging facilities, deployment of supportive grid expansion and encourage local governments to build hydrogen energy infrastructure, it said.