China will soon release the development plan for new energy vehicles, or NEVs, for 2021-2035 to stabilize and expand consumption of electric vehicles and other hybrid cars, the Ministry of Industry and Information Technology said Wednesday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now China has launched a series of measures to boost the demand for NEVs this year, which are likely to bear fruits in the longer run, according to some market observers. China’s NEV output is set to reach 1.6 million units in 2020, up 23% from a year earlier, China Securities Journal quoted Cui Dongshu, the secretary general of China Passenger Car Association, as saying. The forecast comes as the country’s daily retail sales of passenger cars declined 36% on the year to 30,683 units in March, according to the data provided by China Passenger Car Association Wednesday. The association […]