Zhu Huarong, chairman of Changan automobile, suggested promoting a full-scale NEV development at the 2022 World New Energy Vehicle Conference on August 22.
China’s auto industry is ready for the transformation from fuel cars to new energy vehicles (NEVs), said Zhu Huarong, chairman of Changan automobile (Chinese:长安汽车), at the Conference on August 22, 2022. He suggested that the industry should gear fully towards NEV development and stop producing and selling fuel cars. In his opinion, government regulators should develop more supportive policies to further accelerate the overall development of the new energy industry, especially in helping coordinate the mass production and social application of NEVs, as well as the energy structure transformation.
Another auto giant BYD already announced in early April this year that it had stopped the production of cars powered only by gasoline and would focus exclusively on electric and hybrid cars, a move that makes the company a pioneer in the process of electrification.
At the Conference, industry experts revealed that the cumulative global NEV sales had exceeded 20 million. In the first half of the year, more than 4.22 million NEVs were sold globally, a record year-on-year growth of 66.38%, and over 60% of these cars, or about 2.6 million, were sold in China. Currently, the penetration rate of NEVs in China has exceeded 21.6% and the total ownership has exceeded 11 million.
With the quick development and application of intelligent connected vehicle (ICV) technologies and increasing demand for high-precision sensors and vehicle software, the NEV market size is expected to be close to USD 470 billion in 2030.