LINE

Text:AAAPrint
Voices

Domestic new energy vehicle makers must put focus on independent R&D

1
2017-09-20 15:26:14China Daily Gu Mengxi ECNS App Download

The ministry of finance is reportedly mulling further policies to support the production of new energy vehicles, as the current subsidy system will expire in 2021. Beijing Youth Daily commented on Monday:

The promising prospects for new energy vehicles in the Chinese market have lured major automakers into exploring the development of such vehicles and relocating their research centers here. Thanks to the government's subsidies and policy support, sales of new energy vehicles in the country hit 68,000 last month, a 76.3 percent rise year-on-year, according to the China Association of Automobile Manufacturers.

The competition of foreign automakers could be both a boon and a challenge to Chinese manufacturers. Once a world factory featuring low-end car manufacturing, China is now taking a different approach and attaching greater importance to intellectual assets and high-end technology.

The gradual withdrawal of capital from China's bricks-and-mortar industries in recent years has been the result of rising labor costs and stricter environmental protection rules, as well as the weak profitability and innovation capabilities of many Chinese manufacturers. It is vital that China's burgeoning new energy vehicle industry shift its focus from outsourced tasks to independent research and development.

In other words, China should open up to leading foreign enterprises while bargaining for the entry of their technologies and designs too. Although this will not be easy, due to political and competition concerns, it is worth the effort and could contribute to the long-term growth of China's new energy vehicle industry.

Automakers with their eyes on the lucrative Chinese market need to strike a balance between market share and technological "supremacy".

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.