China's NEV sales to account for 50% of new car sales by 2035: industry body
SHANGHAI (Reuters) - New vehicle sales (NEV) in China, the world's largest automotive market, will increase from just 5% currently to 50% of total new vehicle sales by 2035, according to the China Society of Automotive Engineers (China-). SAE) said on Tuesday.
A technology roadmap from the association predicts 95% of NEV sales in 2035 will be battery electric vehicles, while hybrid vehicles will make up the rest, China SAE President Li Jun said at the association's annual conference in Shanghai.
The influential industry body, which includes senior executives and academics, is involved in setting the country's medium to long-term guidelines for electric vehicles. The roadmap is not a government policy, but an important reference for policy makers, companies and investors.
Li also said China's auto industry's carbon dioxide emissions are expected to peak around 2028 and drop to 20% of their peak levels by 2035.
Chinese President Xi Jinping announced plans to increase the Paris Agreement target in China in September, saying that China will peak in carbon dioxide emissions before 2030 and carbon neutrality before 2060.
NEVs include battery electric, plug-in hybrid, and hydrogen fuel cell vehicles. The industry expects China to sell around 1.1 million NEV this year.
(Reporting by Yilei Sun and Brenda Goh; editing by Richard Pullin)
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