China's New-Energy Vehicle Policy A Turning Point in The Industry

There has been a global outcry to control GHG emissions and limit temperature rise. Countries around the world are trying their best to achieve targets in this aspect. China is no different. It is the largest per-capita GHG emitter. It also has the most coal-fired power plants in the world to meet its energy requirements. To offset these negative contributions, China needs a big plan. Fortunately, its new-energy vehicles (NEV) policy seems to be a major step in the right direction.

NEV Policy aims to promote more production and uptake by the public

To understand the NEV policy, we need to have a background of the "863 program". This was a plan to promote hi-tech research and development in the technology sector to make China