Minister of MIIT: NEV production and sales this year are expected to grow 30%

Shanghai (Gasgoo)- Miao Wei, the Minister of Industry and Information Technology, answered related questions on the healthy developments of new energy vehicles at the press conference held by the 19th CPC National Congress Media Center with the theme “Take with New Industrialization Mode”.

Miao Wei said that a small quantity of companies have been exploiting policy loopholes to cheat up subsidies last year in the development of alternative energy vehicles. Five auto manufacturing enterprises have been investigated and the violations have been dealt with. In the meantime, subsidy policies are medicated. Besides, the phasing out of subsidies at the end of last year have some impacts on alternative energy vehicles’ developments.

Miao Wei also pointed out that annual sales volume rose greatly at the end of last year after the policy adjustments, but also slumped at the beginning of year. New energy vehicle sales have been recovering by the third quarter, with the total sales volume growing 30% year-on-year. Currently, the monthly production and sales volumes are nearly 80,000 units, and it’s expected that the growth would reach 30% at the end of year. “We will still pay close attention on the industry’s developments and adopt effective measures to promote the industry’s developments. We have just released the dual-credit scheme on September 28th, which is a practical measure to support the development of the segment.”