(ECNS) -- The 20 millionth Chinese new energy vehicle (NEV) slowly emerged from the GAC Aion production line on Monday in Guangzhou, south China's Guangdong Province, marking a new milestone in the country's NEV production.
According to the China Association of Automobile Manufacturers (CAAM), the nation's first NEV was produced in 1995. It took 27 years to reach 10 million units. However, it only took a year and a half to produce the next 10 million. This change demonstrates the rapid rise of China's NEV industry and automobile development trajectory.
NEVs represent the global green development trend. Since 2012, China has established a national strategy for the development of NEVs, up until at least 2035, and focused on quality design, innovation and boosting comparative advantage.
In the first five months this year, China's NEV production and sales figures reached 3.05 million and 2.94 million, a year-on-year growth of 45.1 percent and 46.8 percent, respectively. China's NEV production and sales have maintained the world's No. 1 position for eight consecutive years.
Driven by the development of NEVs, China's automotive industry is gaining momentum. In the first five months this year, the market share of domestically-made passenger car brands reached 53.1 percent. Industry experts predict that China's automobile exports would exceed 4 million vehicles this year, making the country the world's largest automobile exporter.
Xin Guobin, vice minister of Industry and Information Technology, said issues like inadequate supply of key technologies and insufficient support and guarantee need to be addressed.
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