Year-ender: Top 10 most noteworthy FDI stories in 2020 of page 7 | investinchina.chinadaily.com.cn
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Year-ender: Top 10 most noteworthy FDI stories in 2020

investinchina.chinadaily.com.cn Updated: 2021-01-28

VIEV market entering fast lane

Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, Jan 7, 2020. [Photo/Agencies]

The State Council approved a new development plan for the new energy vehicle (NEV) industry from 2021 to 2035 on Nov 2, and NEVs are believed to be a key driver in Chinese vehicle sales growth.

According to the plan, the nation's NEV sales are expected to account for 20 percent of overall new car sales by 2025, and purely electric automobiles are set to become the majority of new cars by 2035.

The development of "new infrastructure", such as charging pile construction and 5G, will continue to boost the growth of new energy vehicles in China.

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