China boasts most NEV parc worldwide to one million

Shanghai (Gasgoo)-An increasing number of countries announced the timetable of banning the fuel-powered vehicles in the future, and take the NEVs as an alternative. Under this background, more and more automakers started to put forward their NEV development plans. As the largest auto market, China is considered as a promising NEV market by car manufacturers and investors in terms of its NEV policies.

Chinese government has boosted the development of NEVs since 2009, and provided financial subsidies for NEVs since 2010. Thanks to the NEV subsidies and the corresponding policies, China boasted a total sales volume of NEVs up to 1 million units by the end of 2016, boasting the most NEV parc worldwide. 

In the past two years, since quite a number of NEV companies defrauded government's subsidies, Chinese government now has adjusted their supportive policies. It is known that Chinese government is embarking on troubleshooting the production capacity of NEVs to check whether it is over produced. Definitely, China now tends to make restricted adjustment policies.