Business / Motoring Opinion

China's auto geared for growth despite slowdown

(Xinhua) Updated: 2014-04-25 10:12

Given the good start, the CAAM estimated the number of new energy cars sold in China, including hybrids and pure electric vehicles, may double from that of 2013 to 35,000 units this year.

Miao Wei, Minister of Industry and Information Technology, on Tuesday pledged the country will continue to support the new energy vehicle sector, which is one of the national strategies. Improved financial policies and regulation could be expected to encourage technological innovation and international cooperation.

Car makers reacted. China's two major manufacturers BYD and Guangzhou Automobile Group announced on Wednesday to establish a new energy vehicle joint venture, in a bid to overcome technical barriers and facilitate marketing progress.

Other new energy car producers, including JAC and Chery, have all been gearing up for the booming industry by stepping up brand design and production.

However, China still faces challenges like comparatively lagged technology and weak competitiveness of homegrown brands.

Efforts should also be made to improve the infrastructure for new energy vehicles, and change attitudes of consumers, Wang said.

China's auto geared for growth despite slowdown

SUVs at Beijing auto show

China's auto geared for growth despite slowdown

World premieres at Beijing auto show

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