China’s plan to fully electrify public vehicles to give NEV sector US$118 billion boost, analyst says

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Beijing’s push to fully electrify its public-sector vehicles is expected to create more than 800 billion yuan (US$118 billion) in market value for China’s new energy vehicles (NEVs) industry by 2025, an analyst said.

Last week, China’s Ministry of Industry and Information Technology and seven other government agencies announced a pilot programme aimed at increasing NEV use as city buses, taxis and sanitation, postal and logistics services vehicles.