SHANGHAI (Reuters) – Sales of new energy vehicles (NEV) will make up 50% of overall new car sales in China, the world’s biggest auto market, by 2035, an industry official said on Tuesday.
The influential industry body, China Society of Automotive Engineers (China-SAE), has members of senior auto executives and academicians and is involved in the setting of the country’s mid- to long-term energy vehicle policies.
NEVs include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles. Industry expects China to sell around 1.1 million NEVs this year.
Li Jun, president of China-SAE, told the association’s annual conference in Shanghai on Tuesday that the association predicts 95% of NEV sales in 2035 will be battery electric vehicles.
Li added hybrid vehicles will make up the rest 50% of all new vehicle sales by 2035.
(Reporting by Yilei Sun and Brenda Goh; Editing by Kim Coghill)