In August, China’s wholesale volume of locally-produced new energy passenger vehicles (NEPVs) exceeded 100,000 units, surging 43.7% year on year and jumping 23.9% month on month, according to the China Passenger Car Association (CPCA).

Over the next five years, SAIC Motor aims to roll out at least ten FCV (fuel cell vehicle) models and hit over 10,000 units in both annual FCV outputs and sales, representing more than 10% share in China’s FCV market.

Beijing will strive to put over 10,000 hydrogen fuel cell vehicles (called “FCVs” for short) on roads by 2025 and expects the cumulative output value of the full FCV industrial chain to exceed 24 billion yuan ($3,502,984,800) then.