China’s Zhejiang province eyes annual NEV production volume of over 1.2 million units by 2025

Shanghai (Gasgoo)- East China's Zhejiang province expects its annual production volume of new energy vehicles (NEVs) to surpass 1.2 million units by 2025, according to a document issued by the Zhejiang Provincial Development and Reform Commission on Jan. 29.

The document illustrates the action plans Zhejiang's authorities hammered out for the development of the local NEV industry.

Geometry E; photo credit: Geely's Geometry

According to the plans, Zhejiang's government wishes to see NEVs account for over 60% of the province's overall annual vehicle output and around 10% of China's total vehicle production volume by 2025. Meanwhile, the proportion of the NEV-related core components sourced locally should be significantly lifted by that year.

In addition, the document also highlighted the target of over 200,000 NEVs in Zhejiang's annual NEV export volume by 2025.

Zhejiang province will also vigorously push ahead with the development of intelligent vehicles. According to the plans, NEV and Internet companies in the province will be supported in speeding up the deployment in such core areas as in-car operating system, sensing and decision-making system, drive-by-wire system, and IoV (Internet of Vehicles) cloud-controlled platform.

To enhance vehicles' intelligence level, Zhejiang province will strive to popularize the Level 2 driver assistance functions in new vehicle models, and boost the R&D and volume production of the intelligent vehicles powered by the Level 3 autonomous driving functions.