Chinese officials reaffirm commitment to EV ambitions and promise raft of support measures amid industry doubts

['Jill Shen', 'More Jill Shen', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] TechNode 2024-03-19 00:00:00

Meanwhile, 2024 kicked off with a new round of price cuts in the Chinese auto market, putting loss-making EV makers under further pressure. “We missed the opportunity to excel in making fossil-fuel cars, but I am confident about China becoming a powerhouse in the era of NEVs,” Ouyang added. Meanwhile, Beijing will introduce new incentives to encourage buyers to trade in their old vehicles for greener ones, especially NEVs and hybrid vehicles. Sales of BEV and PHEVs in China rose 11.7% and 72.8% respectively in the first two months of this year, according to figures from the China Association of Auto Manufacturers (CAAM). READ MORE: Chinese EV makers’ February sales hit by holiday, cold snaps