» BMW signed a deal with charging station provider State Grid EV Service Company, to promote e-mobility in China.
» Toyota and new energy vehicle (NEV) manufacturer BYD announced a 50-50 joint venture to jointly develop car batteries and electric vehicles.
» Volkswagen announced that it would invest around 2.1 billion euros in electric mobility in China.
According to the latest statistics by the China Association of Automobile Manufacturers, the country’s production and sale of NEVs rose at a faster rate in May. In May, NEV production and sales increased by 3.5 percent and 12.2 percent month on month to 84,000 and 82,000, respectively.
In five to eight years, NEVs are expected to keep pace with fuel-driven vehicles in terms of competitiveness, said Fang Yunzhou, president of the Hozon New Energy Automobile Co., Ltd., noting that NEV firms should enhance research and development, innovate marketing modes and strengthen cooperation among industrial chains.
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