China Mandates 30% NEVs in Government Fleet, Projects 16.5M Sales by 2025

Dec 30, 2024, 03:23 AM

China's Ministry of Finance has mandated that new energy vehicles (NEVs) must comprise at least 30% of the annual government vehicle procurement, provided they meet operational needs. For official vehicles with fixed routes and urban usage, the policy recommends a 100% procurement of NEVs. This move aligns with China's broader green transition strategy, which aims to reduce carbon emissions and promote sustainable development. The policy also prioritizes NEVs in vehicle leasing services for government use. In addition, China's NEV market is projected to grow significantly, with sales and exports expected to reach 16.5 million units by 2025, representing a 30% year-on-year growth rate and a penetration rate exceeding 50%.