China is looking to raise its target to have new energy vehicles (NEVs) account for 25 percent of all car sales in 2025, up from a previous target of ‘over 20 percent’, but amid the massive subsidy cuts, the world’s largest EV market could find reaching the 25-percent share target a huge challenge, analysts say. China’s Ministry of Industry and Information Technology has outlined a plan for the development of NEVs, proposing a target of 25 percent of all car sales in 2025 to be fully electric, hybrid vehicles, or hydrogen-powered cars, Reuters reports , citing the plan. The previous target from a 2017 policy targeted “over 20 percent” share of NEVs of total car sales in 2025. Last year, the sales of NEVs in China jumped by 61.7 percent to 1.256 million units, IHS Markit has estimated. Total Chinese car sales reached 28.1 million cars in 2018, according […]